Robinhood's crypto trading revenue plunges 38% as retail traders sit on the sidelines

Robinhood shares drop 4% after crypto trading revenue falls to $100M

Robinhood Q2 record $1.31B revenue (+32%) and $0.62 EPS beat expectations, but crypto trading revenue tumbled 38% to $100M. Crypto volatility remains a material earnings driver for fintech platforms; diversification into derivatives and equities only partially hedges against digital-asset risk.