Robinhood Markets reported a 700% surge in cryptocurrency trading revenue in the fourth quarter, supporting record profitability after retail intermediation as digital assets recovered.
Cryptocurrency revenues reached $358 million, up from $45 million the previous year, accounting for more than a third of total transaction-based revenues, exceeding 200% to $672 million.
The trading boom increased its fourth quarter revenue by 115% year-on-year to $1.01 billion, while net profits surged to over $1 billion, according to the company’s latest. figure.
Robin Hood has deepened its existence in cryptography and announced a contract to acquire bit stamps in June 200 million dollarsone of the oldest crypto exchanges in the world, and is moving to expand its international footprint.
The company also rolled out Ethereum staking in the EU, listing seven new tokens in the US in the last quarter. That figure is expected to “accelerate” this year, CEO Vladimir Tenev said in a company’s revenue call on Wednesday.
“The thing I’m most excited about is tokenization,” Teneve says, about the crypto economy sector that aims to chain real-world assets to increase efficiency and streamline liquidity. I mentioned it.
“I think Robinhood is uniquely positioned at the intersection of traditional finances and debt,” Teneve said.
The sector, which grew 52% last year to $12 billion, excluding Stablecoins, is expected to continue to expand, with some forecasts forecasting $50 billion this year.
The revival of crypto trading lies in a broad market recovery. Bitcoin (BTC) more than doubled in 2024, exceeding $100,000 in late December, Ethereum (ETH) Last year, we won 71.5%.
As a result, Robinhood’s crypto conceptual trading volume exceeded $71 billion, exceeding 400% of the quarter. Playing cards.
Beyond Crypto, Robinhood is betting on international growth and product expansion, including plans to launch in the Asia-Pacific region in 2025 with Singapore as the regional hub.
The company is also expanding its options and futures trading products, targeting active traders.
Detention assets (AUCs) rose 88% to $193 billion, promoting net deposits of $16 billion over the quarter. Robinhood also reported 2.6 million gold subscribers, an increase of 86% from the previous year.
Robinhood’s shares have exceeded 365% over the past year, due to a return to profitability and a surge in trading activity, particularly in crypto.
The stock rose 4.8% to $55.91 due to the closing bell, and an additional 17% to $65.45 in after-hours trading.
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