Robinhood crypto revenue doubles as CEO bets big on asset tokenization
Main Idea
Robinhood's crypto revenue nearly doubled to $160 million in Q2, driven by increased trading volumes and CEO Vladimir Tenev's focus on expanding tokenization of alternative assets in the US and abroad.
Key Points
1. Robinhood's crypto revenue increased 98% year-on-year to $160 million, with total net revenue up 45% to $989 million and net income rising 105% to $386 million.
2. Crypto trading volumes grew 32% to $28 billion, aligning with a 21.7% increase in the overall crypto market cap to $3.36 trillion.
3. CEO Vladimir Tenev emphasized plans to tokenize 'previously inaccessible' alternative assets, leveraging Robinhood's new layer 2 blockchain, Robinhood Chain.
4. The company's tokenization strategy has attracted significant interest but also legal scrutiny, including an inquiry in Lithuania and skepticism over token representation (e.g., OpenAI token).
5. Tenev argued Robinhood's 25 million US users give it a competitive edge in tokenization, though Ethereum remains the dominant platform for real-world asset tokenization with $7 billion secured.
Description
Robinhood saw its crypto revenue almost double to $160 million as CEO Vladimir Tenev confirmed plans to keep pushing its tokenization strategy in the US and abroad.
Latest News
- Visa expands stablecoin offerings amid rising competition from institutions2025-07-31 20:52:33
- Tether posts $4.9B profit in Q2 as stablecoins go mainstream2025-07-31 20:02:17
- SEC crypto ETFs ruling brings structural fix, not retail shakeup: Analysts2025-07-31 19:27:11
- New whales trigger Bitcoin’s third profit-taking wave of current cycle2025-07-31 18:14:41
- Bitcoin ’tick tock’ fractal predicts $150K BTC price top in October2025-07-31 17:46:43