Robinhood's Record Earnings Mask Crypto Revenue Slump

Robinhood reported record revenue and earnings for its second quarter, despite a significant decline in cryptocurrency transaction revenue. The company's quarterly revenue reached $1.31 billion, representing a 32% year-over-year increase. Net income rose 48% to $573 million during the same period.

Cryptocurrency transaction revenue fell 38% from last year, dropping to $100 million. However, Robinhood recorded a substantial $40 billion in crypto trading volume for the quarter, with $18 billion coming from the company's app and $22 billion from Bitstamp, which it acquired in June 2025.

The company continued to expand its digital asset business during the quarter, launching the public mainnet of Robinhood Chain and introducing tokenized US stocks to eligible users in over 120 countries. Robinhood also debuted its first decentralized lending product, Robinhood Earn, and completed its acquisition of Canadian crypto platform WonderFi.

The company plans to expand its crypto offerings in the United Kingdom and reported that nearly 100,000 customer accounts are now enrolled in Agentic Trading, representing more than $100 million in assets under custody. Despite a pre-earnings price drop of 3.15% for Robinhood shares, the company's earnings report indicates continued growth and investment in its digital asset business.