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Robinhood Chain brings in $26 million as crypto revenue rises 20% in Q3
The Block • • business
Key Points:
- Robinhood's crypto revenue increased 20% from the previous quarter to $120 million, driven by $26 million from Robinhood Chain's first quarter on mainnet, launched in July.
- Excluding Robinhood Chain, crypto transaction revenue declined 6% quarter-over-quarter to $94 million and was down 55% compared to a year ago amid lower crypto market activity.
- Crypto trading volumes rose 23% from last quarter to $49.8 billion, split between $20.6 billion on Robinhood's app and $29.2 billion on Bitstamp, the exchange acquired last year.
- Robinhood Chain processed over $80 billion in decentralized exchange volume and generated more than $50 million in fees during the quarter.
- Prediction markets outperformed crypto revenue, with event contracts generating $173 million—an 11% increase from the previous quarter and over six times higher than a year earlier—contributing to Robinhood's total net revenue rising 12% year-over-year to a record $1.42 billion.
