Robinhood reports 12 loss on transactions

The financial services app indicated that in the previous quarter, transactions with cryptocurrencies were greatly affected

The Robinhood platform recently announced that, during the last reported quarter, losses of 12 % were generated in trading transactions with cryptocurrencies.

Through a press release, the financial services application presented the balance for the third quarter of 2022 where the company indicated that transactions with digital assets barely generated revenues of 51 million dollars, between July and September.

Compared to the third quarter of 2021, there was a drop of approximately 7 million dollars, which today represents 12 %.

In recent months, Robinhood has been expanding its products and services for cryptocurrency trading. Among these, the launch of the beta version for its self-custody wallet stood out, which has already been accessed by the 10,000 users who signed up for the waiting list.

Furthermore, the company added support for more digital assets such as cardano, uniswap, stellar, avalanche, and the usdc stablecoin.

K. Tovar

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Source: Diariobitcoin

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