#EarningsSeason
đ Robinhood's Crypto Revenue Fell 55% in Q3
Robinhood reported Q3 results on Oct 27, and crypto was the weak spot.
đ Total revenue hit a record $1.42B, up 12% from a year ago
đ Crypto revenue dropped to $120M from about $267M, now only 8.4% of sales (21% a year ago)
đ Crypto volume fell 38% to $50B: $21B in the app, $29B on Bitstamp
đ Event contracts made $173M (up over 6x) and options $399M (up 31%)
â ïž Net income fell 14% to $476M; shares slid about 5% after hours
What it means for crypto: retail traders are cooling on coins and moving to options and prediction markets. Crypto still beat the $114M estimate, so this looks like a slowdown, not an exit.
Are retail traders coming back to crypto in Q4? đ
$BTC $ETH
#CryptoNews #Robinhood #HOOD
đ Robinhood's Crypto Revenue Fell 55% in Q3
Robinhood reported Q3 results on Oct 27, and crypto was the weak spot.
đ Total revenue hit a record $1.42B, up 12% from a year ago
đ Crypto revenue dropped to $120M from about $267M, now only 8.4% of sales (21% a year ago)
đ Crypto volume fell 38% to $50B: $21B in the app, $29B on Bitstamp
đ Event contracts made $173M (up over 6x) and options $399M (up 31%)
â ïž Net income fell 14% to $476M; shares slid about 5% after hours
What it means for crypto: retail traders are cooling on coins and moving to options and prediction markets. Crypto still beat the $114M estimate, so this looks like a slowdown, not an exit.
Are retail traders coming back to crypto in Q4? đ
$BTC $ETH
#CryptoNews #Robinhood #HOOD
