Robinhood Posts Record Quarter Despite Sharp Drop in Crypto Revenue

Online brokerage Robinhood reported record second-quarter revenue and earnings, even as cryptocurrency transaction revenue declined significantly compared to the previous year.

Strong Overall Financial Performance

According to the company’s Wednesday earnings report, total revenue climbed 32% year over year to $1.31 billion, while net income rose 48% to $573 million. Despite this broader growth, crypto transaction revenue fell 38% to $100 million, down from roughly $160 million a year earlier. Total crypto trading volume for the quarter reached $40 billion, split between $18 billion on the Robinhood app and $22 billion through Bitstamp, the exchange it acquired last year.

Continued Expansion Into Digital Assets

Despite the revenue decline, Robinhood pushed forward with several new crypto initiatives during the quarter. The company launched the public mainnet for Robinhood Chain, introduced tokenized U.S. stocks to eligible users across more than 120 countries, and debuted its first decentralized lending product, Robinhood Earn.

Additional Growth Moves

Robinhood also completed its acquisition of Canadian crypto platform WonderFi and announced plans to expand crypto offerings in the United Kingdom. Separately, the company reported that nearly 100,000 customer accounts are now enrolled in its Agentic Trading feature, representing more than $100 million in assets under custody, signaling growing interest in automated trading tools alongside its broader product expansion.