Major Crypto Platforms See Revenue Decline Amid Market Weakness

Crypto revenue has fallen across major platforms in the second quarter, according to recent earnings reports from eToro, Robinhood, and Coinbase. eToro's cryptoasset revenue dropped by 30% year-on-year to $1.35 billion, while its net contribution from crypto fell to about $12.5 million.

Roger also reported lower crypto revenue, with cryptocurrency transaction revenue declining by 38% to $100 million, despite total net revenue rising 32% to $1.31 billion.

Meanwhile, Coinbase reported $1.2 billion in total revenue and a $359 million net loss, with Bitcoin-related transactions accounting for only 12% of revenue.