Robinhood posts record revenue despite crypto trading plunge

By Steven Stradbrooke . Senior writer covering all things blockchain, with a focus on regulatory, legislative and policy developments. TL;DR: Robinhood posted record Q3 net revenue of $1.42 billion, driven by growth in prediction markets, options and equities, despite a 55% drop in crypto revenue to $120 million. However, net income fell 14% to $415 million, partly due to a $67 million unrealized loss on its Ventures Fund I. The shift in revenue sources was also reflected in transaction revenue, with crypto’s share shrinking to 8% while prediction markets’ share grew to 12%.

Source: CoinGeek