{"id":26124,"date":"2023-12-05T05:27:13","date_gmt":"2023-12-05T05:27:13","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/robinhood-crypto-trading-rises-75-in-nov-ceo-tips-9-figures-in-revenue\/"},"modified":"2023-12-05T05:27:15","modified_gmt":"2023-12-05T05:27:15","slug":"robinhood-crypto-trading-rises-75-in-nov-ceo-tips-9-figures-in-revenue","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/robinhood-crypto-trading-rises-75-in-nov-ceo-tips-9-figures-in-revenue\/","title":{"rendered":"Robinhood crypto trading rises 75% in Nov, CEO tips \u20189 figures’ in revenue"},"content":{"rendered":"
Crypto-friendly trading platform Robinhood has reported a 75% month-on-month increase in digital asset trading volume in November.<\/p>\n
In an 8-K filing to the Securities and Exchange Commission on Dec. 4, Robinhood noted that \u201cNovember Crypto Notional Trading Volumes were roughly 75% above October 2023 levels.\u201d <\/p>\n
The activity, however, didn’t translate to equity and options contract trading volumes, which were mostly flat compared to October.<\/p>\n
The bumper month marks a reversal for Robinhood, which revealed a 55% decrease in cryptocurrency notional volumes over the year in its Q3 results filing. <\/p>\n
As a result, its Q3 revenue came in below analyst estimates for the quarter at $467 million. Transaction-based revenues declined by 11% year-on-year to $185 million, largely due to the fall in crypto volumes over 2022.<\/p>\n