Robinhood’s cryptocurrency business weakened sharply in the third quarter, with transaction revenue falling 55% from a year earlier to $120 million. The figure nevertheless exceeded analysts’ expectations, while the company’s broader blockchain strategy showed signs of expansion.
Crypto revenue loses share of Robinhood’s business
Crypto transaction revenue declined from approximately $267 million in the same quarter last year to $120 million, according to CoinDesk, which reported on the company’s earnings release. The result was better than the $114.1 million expected by Wall Street analysts, but it represented a much smaller contribution to Robinhood’s overall business.
The $120 million in crypto revenue accounted for 8.4% of the company’s $1.424 billion in third-quarter revenue. A year earlier, cryptocurrency trading had represented about 21% of total revenue. The change highlights how much less important crypto trading was to Robinhood’s revenue mix during the latest quarter, even as other parts of the business expanded.
The decline was linked to lower customer trading activity across Robinhood’s platforms. Total crypto trading volume fell 38% year over year to $50 billion. Trading through the Robinhood app dropped 48% to $21 billion, while activity through Bitstamp, the crypto exchange owned by Robinhood, fell 28% to $29 billion.
Trading volume measures the value of transactions carried out on a platform, while transaction revenue reflects the income the company generates from that activity. A reduction in volume can therefore put pressure on revenue tied directly to customer trading.
Other businesses support overall revenue
Robinhood’s total quarterly revenue rose 12% from a year earlier to $1.424 billion. That result was close to, but below, the $1.43 billion analysts had forecast. Growth in options, equities and prediction markets helped offset the contraction in crypto transaction revenue.
Options revenue increased 31% to $399 million. Revenue from equities climbed 41% to $121 million. Prediction-market revenue reached $173 million, more than six times the figure recorded in the same period a year earlier.
Despite the increase in total revenue, Robinhood reported third-quarter earnings per share of $0.51, below the $0.55 consensus estimate. The combination of the revenue and earnings misses weighed on the stock. Shares were down about 5% in after-hours trading following the results.
The figures show a mixed quarter for the company. Its traditional trading categories and prediction markets grew, but the crypto business faced a substantial decline in both trading activity and revenue. Crypto remains part of Robinhood’s platform, though it made up a considerably smaller share of the company’s financial performance than it did one year earlier.
Robinhood continues expanding its blockchain operation
The weaker performance in crypto trading did not mean the company had pulled back from digital assets. Robinhood said its Robinhood Chain blockchain processed more than $80 billion in decentralized-exchange trading volume during its first quarter operating on mainnet.
The company also said the network generated more than $50 million in chain fees over that period. A blockchain’s mainnet is the live version of a network where transactions are processed, rather than a testing environment. Decentralized exchanges allow users to trade digital assets through blockchain-based systems instead of relying on a conventional centralized exchange.
Robinhood’s reported chain fees should be viewed separately from its $120 million in crypto transaction revenue. The fees reflect activity occurring on the blockchain, and the company did not disclose how much of that amount, if any, it recognized as revenue in its financial results. The two figures therefore measure different aspects of the company’s digital-asset operations.
The distinction is important because Robinhood’s current results reflect a decline in customer crypto trading through its app and Bitstamp, while Robinhood Chain represents a newer blockchain-related activity. The company’s earnings report provided operating figures for the network but did not specify the amount recognized in revenue.
Moneyiar market picture
Moneyiar market data recorded the following prices and moves at the stated times:
- OriginTrail (TRAC): $0.3709267304, down 3.98% over 24 hours and 5.1% over seven days, as of October 25, 2026, at 22:38 (+03:30).
- Nesa (NES): $0.1132042175, up 1.36% over 24 hours and down 4.27% over seven days, as of October 25, 2026, at 22:38 (+03:30).
- Ore (ORE): $164.7502665491, up 4.48% over 24 hours and 56.42% over seven days, as of October 25, 2026, at 22:39 (+03:30).
- Infinity Ground (AIN): $0.1025293171, down 31.28% over 24 hours and up 48.1% over seven days, as of September 16, 2026, at 01:39 (+03:30).
These figures are Moneyiar data at the times shown and cover individual digital assets rather than Robinhood’s reported business results.
