- Robinhood reported $23 million in crypto revenue in Q3 2023.
- WuBlockchain reports a 55% decline in Robinhood’s crypto assets compared to the same period in 2022.
- The trading firm will launch its U.K. Brokerage operations and EU Crypto trading within the year.
California-based financial services firm Robinhood (HOOD) disclosed $23 million in cryptocurrency revenue for the third quarter (Q3). The value reported is 25% less than its $31 million revenue in the second quarter.
The Q3 report also emphasized a 29% year-over-year increase in Robinhood’s overall net profit, reaching $467 million. This boost is attributed to elevated net interest and other revenues, although partially offset by a decline in transaction-based revenues.
Robinhood reported third-quarter earnings, with cryptocurrency-related revenue down 55% from the same period last year, recording $23 million. Robinhood plans to expand cryptocurrency trading to the European Union in the coming weeks, with plans to launch brokerage operations in…— Wu Blockchain (@WuBlockchain) November 8, 2023
Moreover, Chinese crypto reporter, Colin Wu, “WuBlockchain” on X (formerly known as Twitter) report…
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