$105,003.00
-0.16%$2,517.99
-0.46%$2.13
0.26%$642.12
-1.37%$144.23
-0.63%$0.99978
0.00%$0.176902
0.25%$0.271065
0.57%$2,518.31
-0.36%$0.622505
-1.50%$104,967.00
0.09%$39.67
-2.35%$3,034.45
-0.45%$2.89
-4.19%$13.05
-0.58%$426.35
-1.89%$9.06
0.29%$18.96
-0.50%$0.255485
-0.77%$2.94
-1.35%$0.999749
0.00%$0.00001202
1.09%$2,519.39
-0.37%$2,694.00
-0.34%$0.153194
-1.60%$85.11
0.48%$0.999512
-0.06%$1.00
0.06%$311.84
0.81%$3.76
0.06%$39.06
6.88%$4.52
0.34%$105,033.00
-0.07%$0.00001089
0.84%$0.609991
7.86%$7.25
-2.94%$273.55
-2.63%$1.18
-0.05%$360.72
-1.36%$51.45
0.10%$5.48
2.28%$1.00
0.00%$4.44
0.48%$0.090666
0.01%$2.20
1.04%$16.65
-0.05%$174.52
-0.48%$0.779494
0.30%$1.055
0.03%$28.48
-6.04%$1.002
0.18%$0.636221
-0.56%$16.84
-0.14%$9.99
0.79%$0.073344
-2.05%$4.44
-0.40%$0.02192335
-1.51%$0.086946
4.38%$4.07
-0.14%$104,704.00
0.38%$0.198162
-1.63%$0.291548
0.64%$3.35
-0.62%$0.660621
0.49%$2.41
0.72%$0.33319
-1.57%$0.970225
-0.55%$1.001
0.10%$2,514.60
-0.52%$0.176114
-0.83%$0.998951
0.16%$103.63
-1.89%$4.36
-0.23%$1.00
-0.00%$11.21
0.00%$1.39
2.04%$152.34
-0.45%$0.01828558
1.82%$1.21
-0.07%$0.407953
-0.25%$1.78
1.98%$2,866.11
-0.35%$1.81
-1.99%$2,636.92
-0.27%$1.15
-2.48%$0.0000147
1.33%$11.45
-0.34%$0.336205
3.92%$3.59
1.10%$0.592423
4.50%$1.00
-0.01%$0.99847
-0.11%$0.999895
0.01%$0.05953
-1.41%$0.622833
-0.21%$2,691.15
-0.48%$0.174364
-0.80%$2,647.36
-0.15%$104,810.00
-0.13%$0.148668
-4.15%$0.01373457
14.06%$104,840.00
-0.13%$641.71
-1.39%$0.456705
-0.32%$3,454.47
0.55%$2,650.14
-0.16%$3,479.39
0.64%$0.839566
0.98%$0.086721
0.76%$107,123.00
1.58%$0.523912
-0.67%$0.5918
-1.48%$2.34
-3.51%$0.00007746
0.51%$160.98
-0.51%$0.801254
0.39%$2,723.72
-0.37%$44.05
-1.49%$111.43
0.02%$187.66
-0.53%$0.697187
-0.12%$0.0149671
0.61%$0.999564
-0.01%$20.14
1.30%$1.11
0.01%$0.00000066
-0.33%$1.93
0.14%$0.263635
0.49%$0.167476
-0.86%$0.01290549
-1.65%$0.99779
0.04%$30.88
0.82%$1.98
-1.39%$0.448762
-3.96%$0.00954
-1.23%$3.69
-1.22%$39.65
-2.58%$0.103695
-1.75%$104,503.00
-0.05%$2.04
-0.97%$0.705651
6.79%$0.558886
-0.38%$1.094
0.05%$0.572808
-1.37%$0.999003
0.04%$2,519.45
-0.28%$2,519.61
-0.37%$0.349677
0.72%$0.211419
-3.25%$104,965.00
0.29%$0.679332
3.80%$2,688.95
-0.64%$2,619.99
-2.27%$1.47
-0.76%$2,519.38
-0.26%$105,084.00
-0.13%$8.81
-0.97%$0.465433
-2.23%$0.262494
0.18%$0.997715
0.05%$52.31
0.13%$2.50
0.08%$1.59
-0.95%$39.65
-2.33%$0.17651
0.10%$0.415788
-1.54%$0.01303784
-2.52%$1.00
-0.04%$0.060556
-0.81%$0.999802
0.01%$0.04342469
-1.68%$1.39
-1.09%$1.09
-0.01%$0.00002052
0.72%$1.002
0.24%$0.999874
0.01%$0.412085
2.03%$36.92
-2.08%$0.00000041
-0.08%$0.555433
5.13%$0.341784
-0.80%$0.402236
-5.63%$0.51062
-0.94%$0.118422
-0.23%$6.01
0.60%$13.83
0.14%$0.03935766
-5.72%$5.52
-1.78%$0.148322
0.04%$2,674.64
-0.44%$0.942725
-6.63%$1.003
0.29%$2,517.17
-0.45%$2.31
0.40%$1.22
-3.50%$0.073377
-1.19%$0.00621454
-1.71%$0.00391388
-1.56%$0.00354441
-2.47%$1.071
-0.18%$2,778.28
-0.28%$0.03603105
0.22%$0.00000089
-3.27%$0.01792805
-0.28%$1.41
-2.23%$0.135442
-5.58%$0.33992
-1.35%$2,754.50
-0.13%$104,868.00
-0.16%$1.21
-0.22%$0.158024
-3.02%$104,792.00
0.90%$2,518.67
-0.34%$0.0040212
-3.15%$0.00005924
4.95%$19.56
1.33%$0.0322744
-0.33%$0.486974
-2.72%$0.764617
-0.84%$0.999005
-0.03%$0.998644
-0.16%$0.999682
-0.02%$0.00366763
1.15%$0.066231
-0.24%$157.06
-0.39%$0.00000149
5.74%$2,517.38
-0.32%$0.306257
-1.24%$0.00568526
-1.24%$112.20
-0.45%$0.198242
-1.68%$18.96
-0.49%$0.01881434
-0.79%$1.001
0.02%$104,779.00
-0.45%$0.620767
-0.99%$6.78
-1.53%$0.999936
-0.00%$1.018
0.01%$0.613209
-1.21%$0.192789
0.57%$102,804.00
1.22%$1.65
1.01%$2,108.71
-0.20%$8.80
0.00%$0.265508
3.98%$15.13
2.62%$101,860.00
-0.65%Reading
Robinhood is discovering the downside of the crypto market's famous volatility.
The company on Tuesday revealed in its Q3 earnings report that its crypto revenue fell to $51 million last quarter—a 78% decline from the $233 million it notched in the second quarter, though still up considerably from the $5 million it earned in Q3 2020.
The decline was driven in part by a fall-off in demand for Dogecoin, which exploded in popularity in the first half of the year and helped propel record sign-ups at Robinhood.
"In Q2, the story was about crypto, especially DOGE," said CFO Jason Warnick in a call with reporters, adding that customers' focus shifted more to equities in the third quarter.
Overall, Robinhood earned total revenues of $365 million in Q3, up from the same period a year ago, but down from the $565 million it posted last quarter. The company saw a loss of $1.37 billion for Q3, nearly all of which stemmed from one-time stock awards tied to its initial public offering.
Warnick described the crypto market as "idiosyncratic," and added that the company intends to invest in crypto over the long-term, though it is impossible to make accurate revenue forecasts.
Warnick also noted that more than 1 million customers have signed up for Robinhood's soon-to-be-launched crypto wallet. Those sign-ups came as a bright spot in what was otherwise a rough quarter for Robinhood, which first began trading as a public company earlier this year.
Meanwhile, customers have been pressing Robinhood, which has emerged as rival to crypto giant Coinbase, on when it will add more coins. On a message board platform where it fields questions for investors, the most popular question noted that Robinhood has been slow to add new tokens and asked if the company plans to add the novelty currency Shiba Inu by the end of this year.
Warnick hinted that the wait may continue, citing increased regulatory scrutiny of crypto, and the possibility that some tokens may be deemed to be securities.
In a release announcing its financial results, Robinhood also touted its addition of 24/7 customer phone support, describing itself as the "first major crypto platform to offer such a service."
Robinhood's share price, which had been trading at around $39, fell over 7% in after-hours trading.
Robinhood Crypto COO Christine Brown chats with Decrypt EIC Dan Roberts and Executive Editor Jeff Roberts at Messari Mainnet 2021 about Robinhood's plan to add wallets and transfers starting in October, what type of customers Robinhood is targeting, which crypto companies Robinhood is competing with, and the company's potential roadmap for adding more crypto features.
Formula 1 has renewed its partnership with exchange platform Crypto.com, extending the agreement through 2030 as both entities seek to capitalize on their shared momentum. The renewed partnership will see Crypto.com continue to feature prominently at key Formula 1 events, including the Miami Grand Prix, where it has been the title sponsor since the race’s inception in 2022. The deal, first inked in 2021, marked Formula 1’s foray into the crypto world at a time when digital assets were experienc...
Mo Shaikh, a co-creator of the Aptos blockchain and co-founder and CEO of the Aptos Labs firm that helps support it, announced Thursday that he's leaving the company to focus on a "new chapter." "Today, I am stepping away from Aptos Labs to start a new chapter," Shaikh wrote on X. "One of my true passions lies in building companies from the ground up, and we have done that at Aptos Labs by building a world-class team." "I leave Aptos Labs with the utmost confidence in the team," he continued, "a...
Building on the momentum of anticipated changes to U.S. crypto policy, Binance.US said it aims to restore its USD services in early 2025, according to a statement shared with Decrypt. It marks the exchange's first major operational shift as regulatory pressure forced the exchange to suspend fiat trading last year. The platform has operated under restricted banking access since June 2023, when SEC civil claims triggered a suspension of dollar deposits and withdrawals. "While I can't provide a de...
