Robinhood shares fall 4% as crypto trading revenue drops 38% year-on-year

·1 views

Robinhood's stock slid 4% despite the company posting better-than-expected overall earnings. The brokerage generated $100 million in cryptocurrency trading revenue, marking a 38% decline compared to the same period last year. The drop in crypto activity weighed on investor sentiment even as other segments performed well. Revenue from options trading, equities, and prediction markets helped offset the shortfall in crypto earnings.

Read the full story at CoinDesk

This is an AI-generated summary. ShortSingh links to the original source for the complete article.

Discussion (0)

Bipartisan Senators Propose Stricter Crypto Ethics Rules in Clarity Act Revision

A bipartisan pair of U.S. senators is working to revise the ethics provisions of the Clarity Act, a key piece of cryptocurrency legislation. The senators are said to have developed a tougher approach than the version previously accepted by former President Donald Trump. Their goal is to craft language strong enough to secure sufficient votes for the bill's passage. The revised ethics section focuses on crypto-related conflict-of-interest limits. Details of the proposal have emerged through insider sources familiar with the ongoing negotiations.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

Ethereum Pivots to Layer-2 Support as Crypto Perpetual Futures Market Grows

The crypto perpetual futures market is experiencing a significant boom, with much of the trading activity occurring on layer-2 networks. As faster competing blockchains vie for dominance, Ethereum's strategic role appears to be evolving. Some developers now argue that Ethereum's core value lies not in direct competition but in underpinning the layer-2 platforms where futures trading is thriving. This shift in perspective suggests a redefined purpose for Ethereum within the broader crypto trading ecosystem.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

Federal Reserve holds interest rates steady amid policy uncertainty

The U.S. Federal Reserve decided to keep interest rates unchanged, extending its current pause in monetary policy adjustments. Markets were notably divided ahead of the decision, reflecting uncertainty about the central bank's next move — an unusual dynamic compared to recent years. Attention is now turning to Kevin Warsh, who is expected to outline a future policy roadmap. The hold signals a cautious stance from the Fed as it navigates evolving economic conditions.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

Morgan Stanley: Tokenization and 24/7 Markets Are Ending the 9-to-5 Banking Era

Morgan Stanley executives say the traditional 9-to-5 banking day is coming to an end. The shift is being driven by the rise of tokenization and round-the-clock financial markets. These developments are pushing the banking sector toward always-on operations. As digital assets and blockchain-based finance grow, continuous banking is becoming a practical reality rather than a distant concept.

0 comments Read more at CoinDesk