Robinhood's Q1 Crypto Revenue Takes a Hit, Drops 30% Year-Over-Year
Robinhood , an American financial services firm, has recently released its earnings results. According to the company’s earnings results, the firm reported cryptocurrency trading revenue of $38 million for the first quarter of 2023. This figure is 30% down in comparison to the $54 million for the year-over-year timeframe. Robinhood crypto trading revenue drops by 1 in Q1 Data reveals that in the first quarter, cryptocurrency trading revenue dropped just by 1%. In Q1, Robinhood reported crypto trading revenue of $38 million, which should be compared to the overall trading revenue of $441 million across all of the company’s businesses. This indicates a year-over-year increase of 47.5%. An Analysis of the company’s holdings reveals that the firm holds $11.5 billion worth of cryptocurrencies. This is 36% up from the company’s holdings in Q4, 2022. Also read: Shiba Inu Burn Transactions Set Unbeatable Records: Here’s What You Need to Know The financial giant recentl...