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Robinhood Crypto Revenue Fell 18% Sequentially to $31M in Q2

Online trading platform Robinhood (HOOD) reported crypto trading revenue of $31 million in the second quarter, down 18% from the $38 million in the first quarter, according to its latest earnings release. The $31 million crypto trading revenue figure in Q2 was 16% of the $193 million in trading revenue across all categories, which saw a 7% sequential decline. The company also reported having $11.5 million in crypto assets under custody, the same amount as was held at the end of the first quarter. The trading platform currently offers trading for 15 different crypto currencies. Overall for the second quarter, Robinhood reported earnings per share of $0.03 on revenue of $486 million.

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