Robinhood Crypto Trading Volume Jumps 61% in August
Robinhood’s August crypto trading volume rebounded 61% from July to $17.5 billion, though it remained 38% below a year earlier. The main app handled $7.4 billion, while Bitstamp contributed $10.1 billion. The company’s broader business continued to expand: platform assets reached $384 billion, funded customers rose to 28.6 million, and margin loans increased to $21.5 billion. The bigger growth story was prediction markets. Event contracts traded 4.7 billion times in August, down from July but about 15 times higher than a year earlier. That business has become Robinhood’s breakout transaction driver, with event contract revenue jumping more than tenfold year over year to $156 million in the July quarter. Robinhood also reported fast growth in its blockchain effort, Robinhood Chain, which reached $1.6 billion in daily decentralized exchange volume. Shares fell 0.83% after the release.
