BTC
$111,528.09
+
3.93%
ETH
$2,656.07
+
4.74%
USDT
$0.9999
-
0.02%
XRP
$2.4282
+
3.36%
BNB
$687.14
+
4.70%
SOL
$178.75
+
6.45%
USDC
$0.9998
-
0.00%
DOGE
$0.2412
+
7.67%
ADA
$0.8030
+
6.23%
TRX
$0.2761
+
1.14%
SUI
$3.8374
+
8.61%
LINK
$16.55
+
5.20%
HYPE
$31.10
+
18.63%
AVAX
$25.08
+
8.40%
XLM
$0.3002
+
4.25%
SHIB
$0.0₄1529
+
5.75%
HBAR
$0.2034
+
3.88%
BCH
$430.99
+
5.27%
LEO
$8.8904
+
0.87%
TON
$3.1682
+
4.25%
Logo
  • News
  • Prices
  • Data
  • Indices
  • Research
  • Events
  • Sponsored
  • Sign In
  • Sign Up
Finance
Share this article
X iconX (Twitter)LinkedInFacebookEmail

Robinhood's Crypto Revenue Down 30% Year-Over-Year in Q1

The trading platform also reported holding around $11.5 billion worth of crypto in assets under custody, an increase of 36% versus the fourth quarter.

By Jamie Crawley
Updated May 11, 2023, 2:22 p.m. Published May 11, 2023, 2:22 p.m.
ROBINHOOD app on a smartphone (Shutterstock)
ROBINHOOD app on a smartphone (Shutterstock)

Online trading platform Robinhood (HOOD) reported cryptocurrency trading revenue of $38 million for Q1 2023, a decline of around 30% compared to $54 million for the year-earlier period, according to the company's earnings results. On a quarterly basis, however, crypto revenue declined just 1%.

The $38 million crypto trading revenue figure in Q1 compares to the $441 million in trading revenue across all of HOOD's businesses, a rise of 47.5% year-over-year.

STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
By signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy.

The company also reported holding around $11.5 billion worth of crypto in assets under, up 36% from the fourth quarter, reflecting the rebound in the cryptocurrency market in early part of 2023.

HOOD shares are higher by 6.7% in Thursday morning trading.

Read More: Galaxy Digital Posts $134M First-Quarter Profit on Strong Showing for Crypto Market


RobinhoodRobinhood crypto
Jamie Crawley

Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.

X icon
Jamie Crawley

Only 1 article remaining this month.

Sign up for free

About

  • About Us
  • Masthead
  • Careers
  • CoinDesk News
  • Crypto API Documentation

Contact

  • Contact Us
  • Accessibility
  • Advertise
  • Sitemap
  • System Status
DISCLOSURE & POLICES
CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.
EthicsPrivacyTerms of UseCookie SettingsDo Not Sell My Info

© 2025 CoinDesk, Inc.
X icon
Sign Up
  • News
    Back to menu
    News
    • Markets
    • Finance
    • Tech
    • Policy
    • Focus
  • Prices
    Back to menu
    Prices
    • Data
      Back to menu
      Data
      • Trade Data
      • Derivatives
      • Order Book Data
      • On-Chain Data
      • API
      • Research & Insights
      • Data Catalogue
      • AI & Machine Learning
    • Indices
      Back to menu
      Indices
      • Multi-Asset Indices
      • Reference Rates
      • Strategies and Services
      • API
      • Insights & Announcements
      • Documentation & Governance
    • Research
      Back to menu
      Research
      • Events
        Back to menu
        Events
        • Consensus 2025
        • Consensus 2025 Coverage
      • Sponsored
        Back to menu
        Sponsored
        • Thought Leadership
        • Press Releases
        • CoinW
        • MEXC
        • Phemex
        • Advertise
      • Videos
        Back to menu
        Videos
        • CoinDesk Daily
        • Shorts
        • Editor's Picks
      • Podcasts
        Back to menu
        Podcasts
        • CoinDesk Podcast Network
        • Markets Daily
        • Gen C
        • Unchained with Laura Shin
        • The Mining Pod
      • Newsletters
        Back to menu
        Newsletters
        • The Node
        • Crypto Daybook Americas
        • State of Crypto
        • Crypto Long & Short
        • Crypto for Advisors
      • Webinars & Events
        Back to menu
        Webinars & Events
        • Consensus 2025
        • Policy & Regulation Conference
      Select Language
      English enEspañol esFilipino filFrançais frItaliano itPortuguês pt-brРусский ruУкраїнська uk