Robinhood's Crypto Bet Pays Off with $3.6M Revenue Haul

Robinhood's crypto ambitions are finally paying off in a big way. The company generated $3.6 million in revenue last month from its Ethereum Layer 2 network, outperforming other L2 networks like Polygon PoS and Base.

This achievement marks a significant milestone for Robinhood as it continues to expand its presence in the crypto space. In July, Robinhood Chain led the pack with $3.6 million in revenue, followed closely by Polygon PoS at $2.7 million and Base at $2.1 million.

The gap between these L2 networks is substantial, with Arbitrum One lagging behind at around $533,000. Starknet and Celo trailed even further, generating roughly $137,000 and $119,000 respectively.

Roger that's a notable achievement for Robinhood, which has been expanding its crypto offerings in the UK by adding 50 new assets to its platform. This success could potentially propel Robinhood's valuation to a staggering $300 billion.