Robinhood Q1 crypto revenue halves, stock price drops 13%, Visa stablecoin settlement network expands to nine chains with an annualized scale of $7 billion, Senator Lummis confirms CLARITY Act will be marked up in May

ME News Report, April 30 (UTC+8), according to BBX data, yesterday’s crypto concept stocks earnings season and stablecoin infrastructure expansion advanced on two fronts, with the core developments as follows: Robinhood Markets, Inc. (NASDAQ: $HOOD) released its Q1 2026 earnings report after the market close on April 28 and submitted SEC Form 8-K: total revenue of $1.07 billion (up 15% YoY), below analyst consensus expectations of $1.14 billion; adjusted EPS of $0.38, slightly below consensus of $0.39; crypto trading revenue plummeted 47% YoY to $134 million (compared to $252 million in the same period last year), with crypto trading volume decreasing 48% to $24 billion, marking the third consecutive quarter of declining crypto revenue. Meanwhile, event contract (prediction market) revenue surged 320% YoY to $147 million, surpassing crypto revenue for the first time as the largest source of trading income, with contract trading volume reaching a record 8.8 billion contracts this quarter; affected by the earnings report, $HOOD closed down approximately 13.24% at $71.20 yesterday. Visa Inc. (NYSE: $V) announced via an official press release on BusinessWire on April 29 that five additional blockchains—Arc, Base, Canton, Polygon, Tempo—have been added to the global stablecoin settlement pilot, expanding the total supported networks to nine (previously Ethereum, Solana, Avalanche, Stellar); the annualized stablecoin settlement volume reached $7 billion, a 50% increase from the previous quarter. The pilot allows card issuers and acquirers to settle using stablecoins as an alternative to traditional banking rails, currently covering over 50 countries and more than 130 stablecoin-linked card programs, and has expanded to USDC settlement with U.S. banks. Senator Cynthia Lummis publicly confirmed on April 29 that the CLARITY Act markup by the Senate Banking Committee is scheduled for May 2026; meanwhile, the SEC announced a roundtable discussion on issues related to the CLARITY Act to be held on May 3, signaling further acceleration in coordination between regulators and legislators, providing an official timeline backing for the market’s previous “end of May” expectations. (Source: ChainCatcher)