Robinhood Crypto Revenue Drops 38% as Options Trading Surges

Rubinhood's crypto revenue plummeted by 38% in the second quarter of 2026, dropping from $358 million to $100 million. However, this decline was largely offset by a surge in options trading, which reached $342 million and accounted for 81% of transaction-based revenue.

The company's total transaction-based revenue actually increased by 15% year over year to $776 million, despite the drop in crypto revenue. Options and event contracts also drove growth, with event contracts generating $156 million in revenue.

Robinhood Chain, a layer-2 network designed for tokenized stocks, real-world assets (RWA), DeFi lending, and AI-native finance, went live as a public mainnet on July 1. The first major activity came from memecoins, with CASHCAT reaching over $227 million in market cap.

The company's stock tokens trade in more than 120 countries and can be used as collateral in DeFi lending pools. However, the mix of stock-token holders, lending assets, memecoins, and recurring DEX volume will show what kind of activity the network can sustain after the initial rush fades.