Robinhood Markets Co., Ltd. hood In the third quarter, the transaction volume of cryptocurrencies has doubled.
what happened: The company issued a financial report after the end of Wednesday, revealing that the virtual currency's assumed original trading volume increased 112 % year -on -year to $ 14.4 billion.
Jason WarnicThe Supreme Finance Officer stated at a financial account, saying that the assumed principal would exceed the $ 5 billion of $ 5 billion in October alone, exceeding the monthly average in the third quarter.
With the rapid increase in transactions, cryptocurrency -related revenue increased 165% year -on -year to $ 61 million.
The quarterly total sales were $ 637 million, lowering the analyst consensus forecast of $ 650.67 million.
Robin Food also reported a significant increase in cryptocurrency rebates. The rebate rose to 48 Basis points in October, an average of 44 Basis points in the third quarter, and 35 Basis points as of the beginning of the year.
Using the company's cryptocurrency department Robinhood Crypto, the user is bitcoin (Cryptocurrency: BTC), Ethereum (Cryptocurrency: ETH), Dougcoin ()Crypto: Douou), And others.
Related items: Reasons for more clear regulations “unravels the movement to digital assets in Wall Street”
Why is that important?: The amount of this cryptocurrency and the rapid increase in rebate occurred under the recent Robin Hood initiatives, which expanded the transaction service.
Robin Food began a presidential election event agreement this week through a subsidiary Robin Food Derivatives (RHD). These contracts allow users to trade based on the results of the 2024 presidential election.
Initially, these contracts were provided to selected customer groups that met specific standards such as US citizenship, but CEO. Vlad Tenev On the phone, I confirmed that the product is being deployed to 100% customers.
CEO Vlad Tenev The company said he would like to acquire the “Active Trader Market” by the release of the product.
Price action: Robin Food's stock price dropped 12.4 % after the transaction was over $ 28.21, up 0.64 % during regular transactions on Tuesday.
Image via ShutterStock
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