Robinhood Crypto Revenue Plunges 55% in Q3 Despite Record $1.42B Overall Revenue

Robinhood reported record overall quarterly revenue of $1.42 billion, but cryptocurrency transaction revenue fell 55% year-over-year to $120 million. Growth in options and prediction markets offset the crypto decline even as the company expanded its blockchain and digital asset businesses. Traders should note weakening retail crypto trading activity at a major brokerage, a possible signal of softer retail participation even as the firm's non-crypto lines carry results.