Robinhood just dropped record second-quarter net revenue at $1.31 billion with a 32% year-over-year surge. 🖤 Activity in prediction markets, options plus equities managed to balance out the crypto income dip. 🌙 Transaction-based revenue climbed 44% to $776 million. 🔮 Event contracts became one of the quickest expanding areas.
Event Contracts Stealing The Show 🌑
Chairman and CEO Vlad Tenev mentioned how prediction markets have expanded steadily since March with more momentum ahead. Robinhood launched Rothera. A CFTC-licensed exchange and clearinghouse materialized in June via joint venture with Susquehanna International Group. More than 3.5 billion event contracts traded so far. Revenue from those contracts hit $156 million. Over ten times the prior year. Contract trades exploded past 10x to a fresh record of 13.6 billion. 📈 Options stayed strong contributors. They brought in $342 million. Up 29% year-over-year. Equities revenue soared 95% to $129 million. Equity notional volumes hit a record $956 billion. An 85% rise from last year.
Worldwide Expansion Vibes 🕸️
Crypto revenue slipped 38% year-over-year to $100 million while notional volumes reached $40 billion. $18 billion from the app. $22 billion from Bitstamp. 💎 The brokerage pushes further into blockchain and digital assets across borders. It revealed the public mainnet for Robinhood Chain. An Ethereum Layer 2 network built for financial services and real-world assets. Stock tokens rolled out for eligible users in more than 120 countries. Agentic Trading launched in May. This lets customers deploy AI-powered agents for equities. Options and crypto trades. Nearly 100,000 customers opened those accounts. Over $100 million sits in assets under custody. ✨ The firm widened its reach by completing the WonderFi acquisition. A Canadian digital asset platform. This marks official entry into the Canadian market. 🦇 Tenev highlighted the broader strategy.
“Whether it’s the Robinhood Chain, Robinhood Ventures, or Trump Accounts, our product velocity is focused on one goal: making everyone an owner. Broad ownership is essential to a free, stable, and prosperous society.”
Just another echo from the void by iconofsin.eth 💖
