Robinhood cited a large growth in the popularity of cryptocurrency on its platform, reporting today that more new users bought crypto with their first trade rather than stocks in the three months ending June 30. The company also disclosed that more than 60% of its funded accounts engaged in crypto trading during this time.
The news came in the form of a Q2 earnings report, which was Robinhood’s first since it became a public company in July.
The report disclosed that Robinhood lost $464 million during the second quarter of 2021—a large number but not indicative of the company’s overall performance, since all of that loss came from an accounting adjustment related to a change in value of notes and warrants held by the company.
Robinhood’s revenues grew to $565 million in the second quarter of 2021, which was a 131% increase from the same quarter a year ago. Cryptocurrencies accounted for $233 million of that revenue—a huge increase compared to the $5 million in crypto revenue the co
Źródło: https://decrypt.co/78889/robinhood-q2-earnings-crypto
