The company's crypto revenue for Q4 could not beat the estimations, and its shares dropped by 10%.
The company’s crypto revenue for Q4 could not beat the estimations, and its shares dropped by 10%.
Nonetheless, cryptocurrency trading revenue in Q4, 2021 was 304% more than the fourth quarter in 2020 , the company reminded. At the same time, digital assets accumulated profits of $419 million for the whole of last year, while in 2020, this number was a mere $27 million. “We’ve been doing a lot of work behind the scenes to provide our crypto customers with the functionality that they’ve been asking for. We know you want wallets.”that many customers are enthusiastic about delving into the new wallet as the waiting list had reached two million users.Robinhood’s cryptocurrency revenue was thriving mainly in the second quarter of 2021 when memecoins such as Dogecoin surged in popularity.
The Shiba Inu-inspired digital currency lost some ground in Q3, and unsurprisingly Robinhood’s crypto revenue
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