Robinhood’s crypto revenue plunged 38%, but a sudden explosion in options trading saved its record quarter

Robinhood's crypto-related transaction revenue in the fourth quarter of 2024 generated $358 million of the company's $672 million in transaction-based revenue, about 53% of the total. That concentration had flipped by the second quarter of 2026, when crypto revenue fell 38% year over year to $100 million and accounted for just 12.9% of transaction-based revenue. [ ]