In the second quarter, about 41% of Robinhood's total profits came from cryptocurrency trading.
According to the financial report for the 2nd quarter, published on August 18, the company received $233 million in services crypto trading. By comparison, Robinhood only made $5 million in cryptocurrencies in all of 2020.
In the second quarter, more than 60% of all active Robinhood accounts bought and/or sold digital assets.
62% of the $233 million in profits came from Dogecoin traders.
In total, the company earned $565 million in the second quarter, an increase of 131% compared to the same period in 2020. The total volume of assets under Robinhood's control is $102 billion.
Subscribe to ForkNews on Telegram to stay up to date with news from the world of cryptocurrencies
According to cointelegraph.com
You May Also Like
Where can you avoid paying taxes on cryptocurrency? Part 2. Asia
We tried to understand and systematize how regulators in Europe, Asia and the post-Soviet space approach the issue of selling, exchanging and mining digital coins.
Do-it-yourself trading robot: as usual, a little theory
Recently, an acquaintance approached me - he trades crypto at an amateur level - and asked me to “write a trading robot.” It is important to focus on terminology here. In conversation, all this is called robots, but in practice, a trading advisor is often needed
