Robinhood is trimming the fat. The trading platform announced it will eliminate roughly 290 positions, about 10% of its total workforce, in what CEO Vlad Tenev is framing as a push toward a leaner organizational structure.
The cuts are expected to cost the company approximately $28 million in restructuring charges. That breaks down to $20 million in cash severance and benefits, plus $8 million tied to share-based compensation, all hitting the books in Q2 2026.
Crypto revenue takes a serious hit
Net revenue came in at $1.07 billion for the quarter, representing 15% year-over-year growth. That sounds solid until you learn it missed analyst expectations.
The crypto numbers were far less ambiguous. Transaction revenue from cryptocurrency trading plummeted 47% year-over-year to $134 million, accompanied by a 48% decline in trading volumes.
