NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Tether Targets $500 Billion Valuation In New Equity Offering Amid US Expansion Plans
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Tether Targets $500 Billion Valuation In New Equity Offering Amid US Expansion Plans

Robinhood’s Crypto Activity Drops 78%, Stock Tanks Below IPO

Julia Arvelaiz
Julia Arvelaiz
1 year ago
3 mins read
Crypto

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Robinhood had a net loss of $1.32 billion this past quarter, recording a plunge of 78% in revenue from crypto transactions from 2Q. Their shares dropped 12% to $34.80 at 9:46 a.m. in New York, $38 below the IPO price in late July, Bloomberg reported.

Robinhood
Robinhood Markets Inc. shares down to $34.80 on the daily chart – Source: Robinhood Markets Inc on TradingView

Analysts had estimated Robinhood Markets Inc. would have a total revenue of $423.9 million during an earlier Bloomberg survey, but the numbers fell short hitting only $364.9 million.

Vlad Tenev, Robinhood’s Chief Executive Officer, had predicted that the trading activity would tumble in the third quarter of 2021 and fewer accounts would open. As he stated during the Q3 Earnings Call, the tumbling numbers do not worry them since they have different short-term goals.

The fourth quarter might be falling short as their anticipation for Q4 is that “total revenue will be less than $325 million and full-year revenue will be less than $1.8 billion. At the top end, this implies full-year revenue growth of 85 percent.”, said Jason Warnick, Chief Financial Officer.

Warnick also reminded that they typically show a “seasonality curve that shows higher growth in the first quarter of the year versus the last three quarters.”, and further explained their Q3 focus on building a team:

We continue to make progress building our teams with increases primarily in engineering, customer service, and our regulatory, and compliance teams. In the quarter, we added 580 new full-time employees across the company, growing 21 percent sequentially versus Q2.

Warnick added that they are not worried about the near-term profitability, rather they feel safe about being “a profitable company over the long term.”

Robinhood’s Crypto Activity Drops-Off

In Robinhood’s report they show a big drop-off on their monthly active users (MAU) from 21.3 million in the second quarter to 18.9 million in this third quarter. Their crypto activity tumbled as well, as they had significantly fewer new funded accounts.

Many thought Robinhood would improve the way to invest in the crypto market. However, many wonder if they can meet with many of their clients interests, such as integrating new digital coins.

Related Reading | Strategist: Next Wave of Bitcoin Investors Likely to Come from Robinhood

Crypto activity and revenue plays a big role in Robinhood’s platform. Ever since they announced their intent to offer a crypto wallet, a waitlist of 1 million clients surged. On the potential growth that this project might bring, Tenev commented:

We actually believe that by rolling out wallets, we will go a long way toward addressing the primary pain point that customers feel right now.

Regulatory Requirements Vs. Crypto Platforms

Tenev stated during the Earnings Call that “the regulatory landscape is increasingly uncertain.” As they want to enhance their involvement in the crypto space, they also intend to watch over their platform and keep it safe by “introducing products that comply with legal and regulatory requirements.”

He explained that Robinhood is carefully looking into new virtual currencies, but they mantain the focus on meeting regulatory guidelines since they do not want another run-in

Related Reading | Robinhood Fined $70M For Causing “Significant Harm” To Customers

In a recent interview with Bloomberg, Blockchain Capital General Partner Spencer Bogart reacted to Robinhood’s tumbling numbers and suggested this drop-off aligns with the frustration that the historically unfriendly regulations from the U.S create for crypto platforms.

Bogart explains that “Historically, the U.S. has been so unfriendly to innovation in the crypto space that most platforms are forced to ban Americans.” According to his opinion, regulations have only worked against the American people’s freedom rather than being implemented in their favor.

For a country that is founded on the principles of freedom, growth, and innovation, to see the U.S. on a shortlist that these merging crypto platforms cannot service, alongside Syria, Sudan and North Korea, it is not just a disgrace, it is a disservice to the American people who should be able to access this technology.

He clarifies that he is unsure of Robinhood’s inside issues, but he understands the landscape behind Tenev’s comments about the regulatory situation “where there really isn’t much clarity”. However, he remains positive as he sees “the tide turning” for crypto.

Robinhood does not sound worried about the Q4 result and they are aiming to play the profitability slow and steady. Warnick said they are investing in crypto and looking forward to diversifying their product selection.

Crypto
Total crypto market over $2.4 Trillion in the daily chart | Source: Crypto Total Market Cap from TradingView.com

 

Tweet123Share196ShareSend
Julia Arvelaiz
Julia Arvelaiz

Julia Arvelaiz

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin predikce

Podle Arthura Hayese by mohl bitcoin do roku 2028 dosáhnout ceny 3,4 mil. USD

Spoluzakladatel burzy BitMEX, Arthur Hayes, přichází s jednou z nejodvážnějších kryptoměnových predikcí posledních let. Tvrdí, že bitcoin by mohl do...

Lenka Hanzlíková 3 hours ago
Franklin Templeton’s Benji-BNB Expansion Fuels FOMO Around Maxi Doge

Franklin Templeton’s Benji-BNB Expansion Fuels FOMO Around Maxi Doge

Franklin Templeton is expanding its Benji Technology Platform to the BNB Chain, making it clear once again that crypto’s integration...

Aaron Walker 3 hours ago
바이낸스 애스터(ASTER) 주간 상승률 1800% 기록... 다음 유망 코인은?

바이낸스 애스터(ASTER) 주간 상승률 1800% 기록… 다음 유망 코인은?

최근 디파이(DeFi) 시장이 전반적인 조정 국면에 접어든 가운데, 일부 프로젝트는 이 같은 흐름을 정면으로 거스르며 주목받고 있다. 영구 선물 기반 탈중앙화 거래소(Perpetu...

Soyeon Lee 3 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Ethereum: scontro tra analisti, Andrew Kang smonta la tesi di Tom Lee

Orfeo Barone 5 minutes ago
Hyperliquid

Hyperliquid’s Days Numbered? Expert Forecasts ‘Painful Death’

Christian Encila 1 hour ago
Bitcoin

Fundstrat’s Tom Lee Sees Bitcoin Tripling, Ether Rising 5X By Year-End

Christian Encila 3 hours ago

Premium Sponsors

Press Releases

  • ドージコイン 今後の展望 ― 0.30ドル到達と「買うべきミームコイン」論争

    ドージコイン 今後の展望 ―...

    34 minutes ago
  • リップル 今後の展望:RLUSDステーブルコインがマネーマーケットファンドに統合

    リップル...

    53 minutes ago
  • 仮想通貨プレセール動向:次世代ビットコインレイヤー2が資金を集める

    ...

    1 hour ago
  • テザーが5,000億ドル規模の資金調達を計画、今注目すべき仮想通貨おすすめ

    ...

    1 hour ago
  • 新しい仮想通貨のプレセールが250万ドル目前、投資家が急増中

    ...

    2 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.