The American investment platform Robinhood released its financial results for the second quarter, revealing that crypto trading revenue plunged by 18% compared to the Q1 figures.
One reason behind the downtrend could be the company’s decision to delist certain digital assets, deemed securities by the US SEC, such as Solana (SOL), Cardano (ADA), and Polygon (MATIC).
The Latest Numbers
Despite reporting solid overall profits in Q2, Robinhood announced that crypto trading revenue fell to $31 million. In comparison, that figure was $38 million in the first quarter of the year (which was still a slight decline from the sum registered in Q4, 2022).
The platform currently supports 15 digital currencies, including Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Bitcoin Cash (BCH), Shiba Inu (SHIB), and others. Its range was even wider two months ago when Solana (SOL), Polygon (MATIC), and Cardano (ADA) were also available for trading.
Nonetheless, the brokerage firm delisted those at t
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