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▲ Robinhood (HOOD), Cryptocurrency, Prediction Market/AI Generated Image
Robinhood Markets (HOOD) achieved record-high revenue in the second quarter. Prediction market contracts surged more than tenfold, while cryptocurrency revenue plummeted by 38%.
According to crypto-focused media outlet Cryptopotato on August 3 (local time), Robinhood's Q2 net revenue increased by 32% year-over-year to a record-high $1.31 billion. Transaction-based revenue totaled $776 million, up 44%. Revenue from prediction market event contracts increased more than tenfold from a year ago to $156 million. Event contracts traded also surged more than tenfold to 13.6 billion, setting a new all-time high.
Vlad Tenev, Chairman and CEO of Robinhood, noted that the prediction market has grown steadily since March and is expected to continue its upward trend. In June, Robinhood launched Rothera, an exchange and clearinghouse authorized by the U.S. Commodity Futures Trading Commission (CFTC), in a joint venture with Susquehanna International Group. Over 3.5 billion event contracts were traded on Rothera.
Options and stock trading also supported revenue growth. Options revenue increased by 29% year-over-year to $342 million. Stock revenue surged by 95% to $129 million. Notional stock trading volume increased by 85% to a record-high $956 billion.
Conversely, the cryptocurrency business showed clear sluggishness. Cryptocurrency revenue decreased by 38% year-over-year, amounting to only $100 million. The total notional cryptocurrency trading volume was $40 billion. Robinhood's application accounted for $18 billion, and Bitstamp for $22 billion.
Robinhood also unveiled the public mainnet for Robinhood Chain, an Ethereum (ETH) Layer 2 network aimed at financial services and real-world assets. It offers stock tokens to eligible users in over 120 countries and launched AI-powered Agentic Trading. Related accounts number approximately 100,000, and assets under custody exceed $100 million. The acquisition of Canadian digital asset platform WonderFi has also been completed. Tenev stated, “Product innovations, including Robinhood Chain, Robinhood Ventures, and Trump accounts, are all focused on one goal: enabling everyone to become an asset owner.”
[Key Article Summary]
-Robinhood's Q2 net revenue reached a record-high of $1.31 billion, a 32% increase.
-Revenue and trading volume for prediction market event contracts both increased more than tenfold year-over-year.
-Cryptocurrency revenue decreased by 38%, but the options, stock, and prediction market businesses drove overall performance growth.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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