Robinhood reports crypto revenue of $43M

The company reported fourth-quarter earnings on Tuesday

article-image

Robinhood CEO Vlad Tenev | Permissionless I by Blockworks

share

Robinhood reported fourth-quarter earnings on Tuesday. 

The company’s transaction-based revenues were boosted by its cryptocurrencies revenue, which came in at $43 million. Overall, transaction-based revenues were up 8% year-over-year to $200 million. 

Monthly active users were down 4% to 10.9 million. The company’s assets under custody also increased to $102.6 billion, a 65% increase year-over-year. 

The report from Robinhood added that it “plans to explore opportunities to continue growing its customer base outside the US” following its expansion into the UK and EU with the brokerage waitlist launch and the European Union crypto launch. 

Last year, the company announced that it planned to expand its crypto trading offering to the EU. 

Vlad Tenev, Robinhood’s CEO, said during a previous earnings call that the EU has “a relatively clear regulatory framework” for crypto. 

The company beat Wall Street’s expectations, posting earnings per share of $0.03, beating expectations for a loss per share of one cent. 

Revenue came in at $471 million, beating expectations of $457 million.

“2023 was a strong year as our product velocity continued to accelerate, our trading market share increased and we started to expand globally,” Tenev said in a press release.

“And we’re off to an even better start in 2024, as we’ve already brought in more Funded Customers and Net Deposits through the first half of Q1 than we did in all of Q4 2023,” he added. 

Robinhood said in November that its crypto trading revenue dropped 55% in the third quarter. The transaction-based revenues declined to $23 million, the company said at the time.

Tenev said last quarter that the company plans to continue to “innovate and improve the offering” in crypto. Earlier this month, Robinhood Connect and MetaMask announced a partnership.

Consensys, the parent company of MetaMask, said that users will be able to purchase crypto through Robinhood’s order engine.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates.png

Research

Content Delivery Networks (CDNs) represent low-hanging fruit in a massive market ripe for Web3-driven disruption. The global CDN market was valued at ~$28B in 2024, and is projected to surpass $140B by 2034, (18.75% CAGR) underscoring the immense demand for efficient content delivery.

article-image

Sponsored

Injective is not waiting for the future of finance. It is bringing it directly to us, today.

article-image

Bitcoin has been bullish for nearly 1,000 days

article-image

Robinhood announced that it’s building an L2 and also plans to launch staking for US users

article-image

“We’re not really doing anything controversial,” said co-founder Zak Folkman at Permissionless last week

article-image

Why equities are more stable than in past decades, plus advice from Peter Lynch

article-image

As Permissionless speakers talk on-chain RWA potential, tokenized stock platform Dinari secures FINRA broker-dealer approval