Robinhood Crypto Revenue Soars and Crashes as Company Pushes Expansion Despite Volatility
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Robinhood's crypto revenue surged in 2021 to $233M from Dogecoin trading mania, but has since crashed to just $23M in Q3 2022.
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Despite volatility, Robinhood is expanding crypto offerings into the EU where regulations are clearer, relisting coins deemed securities by the SEC.
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The company continues building crypto products like its wallet, Connect app, and remains committed to memecoin Dogecoin.
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Analysts see potential boost from a Bitcoin ETF approval diverting trading volume to Robinhood's core stock business.
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With early crypto adoption, Robinhood could be well positioned to bridge traditional finance and the emerging digital economy.