Data: Robinhood Q2 cryptocurrency revenue fell to $31 million, a quarter-over-quarter decrease of 18%

ChainCatcher news, according to Robinhood's latest earnings report, due to a decrease in trading customers, Robinhood's cryptocurrency trading revenue fell by 18% in the second quarter, with revenue related to cryptocurrency activities dropping from $38 million in the previous quarter to $31 million. Supplementary reports indicate that the number of customers trading decreased by 6%, while the nominal trading volume per trader fell by 15%. Previously, Robinhood reported in June that cryptocurrency trading volume in May decreased by 43% compared to April and by 68% year-over-year.

Robinhood stated that it will continue to develop in the cryptocurrency industry and also plans to launch a non-custodial wallet later this year, which will allow customers to control their cryptocurrencies.

Additionally, Robinhood's total net revenue increased to $486 million, a 10% growth compared to the first quarter of this year. The company also stated that, given the net profit in the second quarter increased to $25 million, it "achieved GAAP profitability for the first time" as a publicly traded company.