The post Robinhood’s Crypto Revenue Soars 700% in Q4, Driving Record Profit appeared on BitcoinEthereumNews.com.

Robinhood Markets reported a 700% surge in cryptocurrency trading revenue in the fourth quarter, helping the retail brokerage post record profitability as digital asset volumes rebounded. Crypto revenue reached $358 million, up from $45 million a year earlier, accounting for more than one-third of total transaction-based revenue, which rose over 200% to $672 million.  The trading boom pushed total Q4 revenue up 115% year-over-year to $1.01 billion, while net income soared more than tenfold to $916 million, according to the company’s latest figures. Robinhood is deepening its presence in crypto, announcing in June a deal to acquire Bitstamp for $200 million, one of the world’s oldest crypto exchanges, in a move to expand its international footprint. The company also rolled out Ethereum staking in the EU and listed seven new tokens in the U.S. last quarter. That figure is expected to “accelerate” this year, CEO Vladimir Tenev said in the company’s earnings call on Wednesday. “What I am perhaps most excited about is tokenization,” Tenev said, referring to a sector of the crypto economy that seeks to place real-world assets on-chain in a bid to boost efficiency and streamline liquidity. “I think Robinhood is uniquely positioned at the intersection of traditional finance and DeFi,” Tenev said, referring to the company’s plans to tokenize equities, private investment, and “more.” The sector, which grew 52% last year to $12 billion, excluding stablecoins, is expected to continue to swell, with some projections forecasting $50 billion this year. The resurgence in crypto trading comes amid a broad market recovery, with Bitcoin (BTC) more than doubling in 2024 before surpassing $100,000 in late December, while Ethereum (ETH) gained 71.5% last year. As a result, Robinhood’s crypto notional trading volume surged over 400% to $71 billion in the quarter, reflecting increased activity as investors sought to…

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Filed under: News - @ February 13, 2025 3:26 am