Crypto transaction revenue dropped 47% compared to the same period last year, falling from $252 million to $134 million.
Crypto News
Robinhood reported a sharp contraction in crypto activity for the first quarter of 2026, with transaction revenue and trading volume each falling close to 50% year-over-year, pushing the company's shares down 9.4% in after-hours trading on Tuesday.
Crypto transaction revenue dropped 47% compared to the same period last year, falling from $252 million to $134 million. Crypto TradingVolume declined 48% to $24 billion over the same stretch, marking the third consecutive quarterly drop in crypto transaction revenue for the platform, according to its Q1 earnings report.
Earnings per share came in at $0.38, missing analyst expectations by 11.6%, while total revenue of $1.07 billion fell 6.1% short of estimates. The company remained profitable despite the misses, with net income rising 3% year-over-year to $346 million.
CEO Vladimir Tenev attributed the crypto figures to broader market price volatility and said Robinhood is prioritizing the build-out of crypto infrastructure over short-term trading performance. "Price moves up and down, but what I can tell you is crypto as technology infrastructure is going to be big, and we're investing," he said. He also described the current moment as "the very beginning of what's going to be a tokenization supercycle."
One area that significantly outperformed was Robinhood Predictions, the company's PredictionMarkets product integrated through Kalshi. The platform recorded 8.8 billion event contracts traded in Q1, a 780% increase from Q2 2025, which was its first full quarter available. Tenev said April volume for Robinhood Predictions is on track to reach approximately $3 billion, which would make it the product's second-highest monthly total since its March 2025 launch.
Robinhood Predictions falls under the company's "other" trading category, which saw revenue rise 320% year-over-year to $147 million in Q1, partially offsetting the crypto-related declines. Trading activity from Bitstamp, the exchange Robinhood acquired in June 2025, was reported separately and totaled $42 billion in volume for the quarter, down 13% from Q4 2025.
This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators. This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice. The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
