US Robinhood 1Q earnings report Decrease in cryptocurrency trading revenue

Cryptocurrency revenue down year-on-year Robinhood, a major US investment app, announced on the 10th its financial results for the first quarter of 2023 (January-March). Crypto asset (virtual currency) trading revenue was approximately ¥5.1 billion ($38 million), down from approximately ¥7.2 billion ($54 million) in the same period last year. This is a 1% decrease from about 5.2 billion yen ($39 million) in the previous quarter (4Q 2022). Robinhood also reported that cryptocurrencies held in custody fell 42% year-on-year to about 1.6 trillion yen ($12 billion). Source: The Block To date, the largest cryptocurrency transaction revenue was approximately 30.9 billion yen