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Robinhood’s Results Are Latest to Fall Victim to Crypto Winter

  • Crypto transaction revenue fell 12% from previous quarter
  • Robinhood had previously benefited from rising crypto demand

The steep market downturn for digital assets continues to weigh on a score of companies with exposure to crypto. 

Robinhood Markets Inc. reported Wednesday that its crypto transaction revenue fell to $51 million during the third quarter, a 12% decline compared to the previous quarter and below analysts’ estimates of $56.1 million. The trading platform, which went public in July 2021, said it had an overall net loss of $175 million, or about 20 cents a share.