Robinhood’s crypto revenue rises 20% – So why did HOOD fall 7%?
Photo: AMBCrypto
Robinhood’s L2 and prediction market bet continue to pay off as a key revenue driver. According to the fintech’s Q3 earnings report, its crypto revenue surged by 20% to $120M from Q2’s $100M. The Q3 crypto revenue was primarily driven by prediction markets and its Ethereum L2 Robinhood Chain. In particular, prediction markets raked in $173M, marking an 11% increase from Q2’s $156M. The L2, on the other hand, brought in $26M, offsetting crypto trading revenue, which cooled to $94M from Q2’s $100M. Robinhood's crypto revenue beats expectations The crypto trading revenue includes the Robinhood consumer app and Bitstamp activity.
Source: AMBCrypto
