Robinhood’s crypto revenue skyrockets 700% amid Bitcoin boom
Robinhoodâs crypto earnings skyrockets 700% amid Bitcoin sigh Robinhoodâs crypto earnings skyrockets 700% amid Bitcoin sigh
Robinhood attributed the crypto volume surge to Bitcoin's rally above $100,000 and strategic product enlargement.
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Robinhood reported a staggering 400% surge in crypto procuring and selling volume in the fourth quarter, reaching $70 billion, as retail investors flocked encourage to digital resources amid Bitcoin’s (BTC) rally previous $100,000 and renewed enthusiasm for the broader crypto market.
The brokerage’s complete transaction-based earnings extra than doubled year-over-year, mountain climbing 200% to $672 million. Crypto procuring and selling earnings played a dominant role on this sigh, skyrocketing 700% to $358 million, whereas equity procuring and selling earnings rose 144% to $61 million.
Robinhood’s complete fourth-quarter earnings reached $1.01 billion. The agency reported diluted earnings of $1.01 per fragment in the fourth quarter, a intriguing expand from $0.03 per fragment a year earlier.
Crypto comeback after sluggish year
Robinhoodâs crypto procuring and selling project had step by step declined thru most of 2024, with volume losing from $36 billion in the first quarter to correct $14.4 billion in the third.
The intriguing rebound in the fourth quarter coincided with a broader market resurgence, fueled by Bitcoin’s like a flash price appreciation, increased institutional adoption, and hypothesis around regulatory clarity in the US.
As successfully as to market momentum, Robinhood credited product enlargement for its solid quarter. The firm added seven unique crypto to its US platform, launched Ethereum (ETH) staking for European customers, and announced plans to commence futures procuring and selling for Bitcoin, oil, and gold.
The agency has yet to commit to conserving Bitcoin as an organization reserve, though CEO Vlad Tenev acknowledged internal discussions on the subject in December.
Push for clearer law
Tenev, a vocal proponent of crypto adoption, has advocated for clearer regulatory guidelines in the US. In a Washington Put up op-ed closing month, he urged the Securities and Commerce Commission (SEC) to attach certain rules allowing early-stage companies to tokenize equity.
He advocated for regulatory reforms to democratize access to internal most market investments thru tokenization. He highlighted that many high-sigh companies are selecting to live internal most, limiting funding alternatives to a opt team of successfully off investors.
Tenev argued that by tokenizing internal most equity thru blockchain skills, retail investors may well fabricate early access to these companies, thereby decreasing barriers whereas affirming foremost disclosures and investor protections.
Beyond crypto, Robinhood has been aggressively rising its product choices. In 2024, the firm launched a singular platform for active traders, launched the Robinhood Gold Card, and expanded its financial companies suite in the UK and EU.
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Assad Jafri
AJ, a passionate journalist since Yemen's 2011 Arab Spring, has honed his abilities worldwide for over a decade. Focusing on financial journalism, he now specializes in crypto reporting.
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Bitcoin, a decentralized forex that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries thru a gaze-to-gaze community.
Ethereum is a decentralized, commence-supply blockchain platform that allows the appearance of neat contracts and decentralized functions (DApps).
Robinhood
Robinhood is an American financial companies firm headquartered in Menlo Park, California that was based in April 2013 by Vladimir Tenev and Baiju Bhatt.
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