Robinhood Q2 Crypto Revenue Doubles As Firm Doubles Down On Tokenization

Trading platform Robinhood’s crypto revenue increased 98% year-on-year to $160 million in the second quarter as CEO Vlad Tenev doubled down on plans to lead the real-world asset tokenization market in the US and abroad.

Total net revenue climbed 45% year-on-year to $989 million, while net income increased by 105% to $386 million, Robinhood said in its earnings statement on Wednesday. 

Despite beating Wall Street expectations, company shares slightly retraced in after-hours trading.