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

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.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

Blockworks and Cracked Labs are teaming up for the third installment of the Permissionless Hackathon, happening June 22–23, 2025 in Brooklyn, NY. This is a 36-hour IRL builder sprint where developers, designers, and creatives ship real projects solving real problems across […]

recent research

Research Report Templates.png

Research

Ethena Labs is leaping from its flagship synthetic dollar, USDe, to a full product suite—USDtb, iUSDe, and the Arbitrum-based Converge Chain—designed to marry crypto-native yields with TradFi-grade compliance. Our analysis shows how expanding into CME, ETF options, and tokenized Treasuries could lift protocol revenue from sub-$500 million in a bear case to several billion dollars if favorable regulation and institutional adoption align.

article-image

The L1’s Interwoven Stack is the most opinionated tech stack yet

article-image

Bitcoin is still rising, 11 years after the documentary film The Rise and Rise of Bitcoin

article-image

Arch Labs CEO told Blockworks that the team plans to launch a native token, but declined to give details

article-image

CEO Mike Silagadze tells Blockworks that the US is “open for business” and why its DeFi bank offering is the first of many

article-image

Doing one thing well and leaving everything else out is often what disruptive technologies do best