TechFlow news — commission-free trading platform Robinhood has released its Q2 2024 financial report. The report shows the company generated $81 million in cryptocurrency trading revenue, a 161% year-on-year increase, double that of stock trading revenue.
Crypto asset trading volume reached $21.5 billion, up 137% year-on-year, though down from $36 billion in the first quarter.
Options trading remained Robinhood's largest revenue source, contributing $327 million this quarter. The company reported 11.8 million monthly active users, a 9% year-on-year increase.
Previous report, Robinhood acquired global crypto exchange Bitstamp, which holds over 50 international licenses and registrations, serving customers across the EU, UK, U.S., and Asia. However, the specific impact of the Bitstamp acquisition on financial performance remains unclear.
