Robinhood’s Q1 crypto revenue drops 30% from the previous year
The money coming in for the trading app's crypto business reached $38 million over the first quarter of 2023, down from $54 million in Q1 2022.
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Robinhood axes almost 1 in 10 staff members as stock hits all-time low
“We determined that making these reductions to Robinhood’s staff is the right decision to improve efficiency,” noted Robinhood CEO and co-founder Vlad Tenev.
Robinhood shares tank 10% after crypto revenue falls by three quarters
Robinhood posted $51 million worth of transaction-based revenue from crypto in Q3, marking a 78% decrease compared to the previous quarter.