Robinhood reports a 98% increase in crypto revenue to $160 million, as CEO Vlad Tenev focuses on tokenizing alternative assets in the financial market.
Robinhood's crypto revenue soared by 98% year-on-year to $160 million in Q2, with total net revenue rising 45% to $989 million. CEO Vlad Tenev emphasized plans to lead in real-world asset tokenization, targeting previously inaccessible alternative assets. The firm also reported a 32% increase in crypto trading volumes to $28 billion, reflecting a growing market interest. However, Robinhood's tokenization efforts have raised legal concerns, particularly in Lithuania.