Three Big Crypto Takeaways From Robinhood’s Quarterly Announcement

In its latest earnings call, Robinhood highlighted robust growth driven by prediction markets and strong crypto trading activity. CEO Vlad Tenev reported that prediction market contracts had doubled each quarter, reaching 2.3 billion in Q3, with significant customer interest across various topics. Financially, Robinhood posted a revenue of $1.27 billion, marking a 100% year-over-year increase, predominantly from a 129% rise in transaction-based revenue fueled by crypto and options trading. Crypto revenues reached approximately $268 million. CFO Jason Warnick mentioned stable crypto take rates amidst the recent Bitstamp acquisition. Looking ahead, Robinhood plans to expand its services internationally, particularly in Europe, where early market activities show promise, as they aim for a long-term growth trajectory over the next decade. Warnick emphasized the need for patience as they build a customer base in these new markets.

Source 🔗