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.
Updated May 11, 2023, 2:22 p.m. Published May 11, 2023, 2:22 p.m.
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
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
Hilbert Group buys Enigma Nordic in $32 million deal to boost crypto trading edge
The deal includes performance-based earn-outs contingent on Enigma's strategies generating $40 million in net income.
What to know:
- Hilbert Group has acquired high-frequency trading platform Enigma Nordic in a $32 million deal, gaining access to Enigma's proprietary trading system and market-neutral strategies.
- The deal includes performance-based earn-outs contingent on Enigma's strategies generating $40 million in net income.
- The acquisition will help Hilbert offer systematic crypto products to institutional investors, with plans to integrate Enigma's platform into its hedge fund offerings.
Top Stories
