Robinhood's Crypto Earnings Decreased $9 Million in Q2 2023
Robin HOOD released its Q2 2023 earnings report a few hours back. The platform reported a crypto Trading revenue of $31 million for the second quarter. The figure mentioned above is down 18% from Q1’s $38 million. The latest crypto volume accounted for 16% of Robin HOOD ’s aggregate Trading volume in Q2. The crypto assets under custody did not register any change when compared to the first quarter. Robinhood reported having $11.5 billion in assets under management at the end of Q2. Nevertheless, the number rose fairly from December 2022’s $8.431 billion. During the earnings call, Vlad Tenev, the company’s Co-Founder and Chief Executive Officer said that users get “more crypto ” for their dollar than most other competitors. He mentioned that the company’s goal is to be the safest and most trusted place for customers to hold, trade, and transact crypto . Tenev added, “With all of the turmoil in the space over the past year or ...