The decline in cryptocurrency revenues drew attention in the first quarter balance sheet report of the world-famous investment platform Robinhood.
Robinhood has released its first quarter 2023 balance sheet report. In the report, the decrease in the company’s revenues in the crypto money field did not go unnoticed. Cryptocurrency purchase and sale in revenue compared to the first quarter of 2022 30% regression the company declaring 54 million your dollar earnings to 38 million He said he fell.
Robinhood also noted that “under custody” cryptoassets compared to the previous year. 42% down 12 billion dollars reported regression. Company, 2021 Cryptocurrency transactions in the second quarter of the year 233 million dollars He broke the record for himself. in the fourth quarter of last year 24% in decline 39 million Cryptocurrency revenues falling to USD 233 million was significantly below the record.
On the other hand, despite this decrease in crypto money revenues, the company’s total revenue is the same as in the first quarter of 2022. 299 million Compared to $ net income in the first quarter of 2023 $441 million approximately compared to the previous year an increase of 47.5% it showed. The company’s largest earning income dollar-based interest products it happened. The number of monthly active users on Robinhood is also compared to the previous quarter. increased by 400 thousand.