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Robinhood Crypto Revenue Falls as Meme Coin Frenzy Fades

  • Crypto trading revenue declines while Dogecoin mania eases
  • ‘Everyone’s waiting for’ Shiba Inu listing, BI’s Chariell says
Robinhood Pays $65 Million To End A Key Probe, But Others Fester
Photographer: Gabby Jones/Bloomberg
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Robinhood Markets Inc.’s cryptocurrency trading revenue fell in the fourth quarter and missed Wall Street expectations, marking a second-consecutive quarter-over-quarter decline in the wake of the meme coin frenzy early last year. 

Crypto revenue was $48 million, a 6% decline from the prior quarter, missing the $55 million average estimate of analysts surveyed by Bloomberg. Still, it increased 304% from a year ago. Shares of Robinhood fell about 12% in post-market trading after the firm reported total revenue that was also short of Wall Street estimates.