Share this article
Robinhood’s May Crypto Trading Volume Falls 68% to $2.1B
The trading platform recently delisted three tokens that were classified as securities in the SEC's lawsuit against Coinbase and Binance.
Updated Jun 12, 2023, 7:01 p.m. Published Jun 12, 2023, 1:48 p.m.
Popular trading platform Robinhood (HOOD) has seen a steep decline in crypto trading volume in May, the company reported on Monday, even while volume for equities and options remained high.
The company reported that trading volume for cryptocurrencies dropped to $2.1 billion in May, down 43% from the prior month. On a yearly basis, crypto trading volume slowed 68%, it said.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Daily average trading revenue (DART), a metric that tracks the average trade per day that generated commissions or fees, was down 22% in May and 53% year-over-year for crypto trading.
Just last week, Robinhood delisted three tokens as part of its regular review, leaving only 15 cryptocurrencies available for trading on the platform, the company said. The delisted tokens, Cardano's ADA, Polygon's MATIC, and Solana's SOL, were named as securities by the U.S. Securities and Exchange Commission (SEC) in recent lawsuits against Coinbase (COIN) and Binance.
Robinhood Markets’ chief compliance lawyer Dan Gallagher told lawmakers that the company was trying to register as a special-purpose broker for digital assets in 2021, but the conversations weren’t successful.
Both Coinbase and Binance were hit with lawsuits earlier this month on accusations of violating U.S. securities laws. Robinhood has so far only received an investigative subpoena from the SEC regarding its crypto operations, it revealed in its 10-K filing in February.
Read more: Robinhood Ends Support for All Tokens Named in SEC Lawsuit as Securities
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
KindlyMD faces Nasdaq delisting risk after failing to meet minimum share price levels
The health-care and bitcoin treasury firm has six months to lift its share price above $1 for 10 consecutive days.
What to know:
- The Nasdaq exchange told KindlyMD (NAKA) that it faces being delisted after its share price dropped below $1 for 30 consecutive business days.
- The health-care company that is building a bitcoin treasury has until June 8 to regain compliance, which requires the stock to close at or above $1 for at least 10 consecutive business days.
- The shares first fell below $1 in late October, and closed Monday at $0.38.
