Share this article
Robinhood's Crypto Revenue Down 30% Year-Over-Year in Q1
The trading platform also reported holding around $11.5 billion worth of crypto in assets under custody, an increase of 36% versus the fourth quarter.
May 11, 2023, 2:22 p.m.
Make us preferred on Google
Online trading platform Robinhood (HOOD) reported cryptocurrency trading revenue of $38 million for Q1 2023, a decline of around 30% compared to $54 million for the year-earlier period, according to the company's earnings results. On a quarterly basis, however, crypto revenue declined just 1%.
The $38 million crypto trading revenue figure in Q1 compares to the $441 million in trading revenue across all of HOOD's businesses, a rise of 47.5% year-over-year.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The company also reported holding around $11.5 billion worth of crypto in assets under, up 36% from the fourth quarter, reflecting the rebound in the cryptocurrency market in early part of 2023.
HOOD shares are higher by 6.7% in Thursday morning trading.
Read More: Galaxy Digital Posts $134M First-Quarter Profit on Strong Showing for Crypto Market
More For You
Specialized AI detects 92% of real-world DeFi exploits
New research claims specialized AI dramatically outperforms general-purpose models at detecting exploited DeFi vulnerabilities.
What to know:
- A purpose-built AI security agent detected vulnerabilities in 92% of 90 exploited DeFi contracts ($96.8 million in exploit value), compared with 34% and $7.5 million for a baseline GPT-5.1-based coding agent running on the same underlying model.
- The gap came from domain-specific security methodology layered on top of the model, not differences in core AI capability, according to the report.
- The findings come as prior research from Anthropic and OpenAI shows AI agents can execute end-to-end smart contract exploits at low cost, accelerating concerns that offensive AI capabilities are scaling faster than defensive adoption.
Top Stories
