Robinhood Shares Slide on 34% Decrease in Crypto Revenue
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- Robinhood posted Q1 crypto transaction revenue of $134 M, a 34% drop from the previous quarter.
- Bitcoin fell 22% in the quarter, leaving the price near $76 k and pressuring crypto‑dependent platforms.
- Vlad Tenev said Robinhood aims to become central to customers’ financial lives even as crypto revenue shrinks.
- OpenAI is reallocating talent, moving 10 Prism engineers to its Codex team, reflecting a broader tech shift away from volatile crypto markets.
Why it matters: Retail investors lose a key low‑cost crypto gateway as Robinhood’s crypto revenue drops 34% to $134 M, while the platform’s share price slides 6% to $82, tightening margins and prompting a shift toward equities and prediction markets.
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