Crypto is now driving half of Robinhood’s revenue ...Middle East

Quartz - Economy
Crypto is now driving half of Robinhood’s revenue
Robinhood investors are loving crypto.In its first earnings report as a public company, the investing platform said crypto trading accounted for 52% of its main source of revenue—selling users’ orders for options, equities, and cryptocurrencies to market makers like Citadel—up from just 0.03% in the second quarter of last year. Dogecoin, which was originally created to make fun of the crypto hype, made up 62% of crypto trading volume, the company said Aug. 18.“Robinhood is now clearly on the map for crypto trading,” said Jason Warnick, Robinhood’s CFO, in a conference call.Read the rest of this story on qz.com. Become a member to get unlimited access to Quartz’s journalism.

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