Just saw Robinhood's Q1 numbers and crypto trading volume took a hit - down to $24 billion with revenue dropping nearly 50% year-over-year. Pretty rough quarter for their crypto business honestly. The notional transaction volume decline mirrors that revenue drop, so clearly the crypto market slowdown really impacted them. But here's the interesting part - their overall transaction revenue still grew 7% because options trading absolutely exploded, up 320%. Stock trading revenue also jumped 46%. So while Robinhood's crypto trading volume to billion was weaker, they're clearly making it up elsewhere. Their net profit still managed to grow 3% to $346 million, which is solid given the crypto headwinds. One thing worth noting - they've been pushing their Ethereum Layer 2 and it's already hit over 100 million transactions. Stock tanked 6% after hours to $76.99 though, so market wasn't thrilled with the crypto slowdown despite the wins in other areas.

ETH-0.79%
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