Daily Crypto Briefs 
MENLO PARK, Calif., October 27, 2026
Robinhood reported a 55% year-over-year decline in third-quarter cryptocurrency revenue to $120 million on October 27, even as the brokerage posted record overall revenue, underscoring a shift toward options and prediction-market trading.
The results cover the three months ended September 30. Crypto remained a contributor, but event contracts generated more revenue during the quarter, while both Robinhood’s consumer app and Bitstamp reported lower crypto trading volumes than a year earlier.
Total net revenue reached $1.424 billion, up 12%, while crypto notional trading volume fell 38% to $50 billion, according to Robinhood’s earnings release. Net income fell 14% to $476 million. Revenue measures sales; net income reflects what remains after expenses and other income-statement items.
Chief Financial Officer Shiv Verma attributed the companywide revenue record to customers entrusting Robinhood with more assets as it delivered products. The release also said lower cryptocurrency valuations partly offset growth in platform assets, distinguishing the broader business expansion from the weakness in crypto.
Bitcoin
BTCSource: ChartExchange, sampled completed UTC closes checked October 27. Bitcoin closed October 26 at $80,008.79, down 0.055%. This pre-release market context is not an earnings reaction; the unfinished October 27 session is excluded.
Crypto revenue falls despite a quarterly rebound
The annual decline masks a smaller sequential recovery. Against the $100 million in crypto revenue in Robinhood’s second-quarter results, the latest $120 million represents a 20% increase, calculated from the two reported figures.
Trading activity also rose from the previous quarter’s $40 billion, reaching $50 billion. That 25% sequential increase does not erase the year-over-year contraction. The comparison period is essential: the business improved from June’s quarter while remaining substantially below September 2025’s level.
Robinhood reported $21 billion of app crypto trading volume, down 48% year over year, and $29 billion at Bitstamp, down 28%. Bitstamp therefore accounted for 58% of the combined total, calculated from the disclosed rounded figures.
Those amounts describe the value of executed trades, not fees collected or customer deposits. Robinhood’s definitions count a $1 transaction once, rather than separately for its buyer and seller. Its app-volume definition also includes WonderFi customer trades starting in June 2026.
The release does not provide a complete bridge explaining how trading mix, customer activity and pricing individually produced the 55% revenue decline. Volume and revenue moved by different percentages, so the trading slowdown alone cannot quantify every factor behind the revenue result.
Prediction-market revenue exceeds crypto fees
Event-contract revenue reached $173 million, more than six times its year-earlier level and $53 million above crypto revenue. Options remained larger at $399 million, up 31%, while equities revenue rose 41% to $121 million.
Together, those businesses helped lift transaction-based revenue 19% to $867 million. The figures show Robinhood’s growth becoming less dependent on crypto transaction fees, although they do not establish which trading category produced the highest profit.
Customers traded a record 16.4 billion event contracts, more than seven times the year-earlier count. Contract counts cannot be compared directly with the $50 billion crypto-volume figure: one measures contracts and the other measures dollars of executed trades.
Robinhood ended the quarter with 28.7 million funded customers, up 7%, and $396 billion in platform assets, up 19%. It also reported $15.7 billion in net deposits and 5.2 million Gold subscribers. Those companywide measures should not be read as crypto-only customer or asset totals.
Profitability was less buoyant than sales. Diluted earnings fell 16% to $0.51 per share, with net income including $67 million of unrealized losses primarily related to Robinhood Ventures Fund I. The company separately reported adjusted earnings of $0.60 per share under its non-GAAP measure.
RLUSD deal targets Robinhood’s next crypto quarter
The earnings arrived the same day that Ripple announced a broader Robinhood partnership spanning stablecoins, treasury software and institutional financing. That agreement is a subsequent development, not an explanation for revenue earned before September 30.
Ripple said RLUSD is already live on Robinhood Chain and Bitstamp, with availability in the Robinhood app expected later this year. Institutional settlement would use RLUSD on the XRP Ledger. The announcement did not specify an exact retail launch date, full jurisdictional eligibility or expected Robinhood revenue.
Robinhood also plans to integrate Ripple Treasury for its own financial operations. That adoption follows Ripple’s separate corporate treasury platform expansion; it does not establish that Robinhood customers will receive the returns offered through any corporate program.
For broader market context, Alternative.me’s Bitcoin-focused Fear & Greed Index read 48, or Neutral, against 50 the previous day when checked October 27. It is a sentiment gauge, not a measure of Robinhood’s trading activity.
Prior-day Fear & Greed Index
Oct. 26, 2026The next operating update will offer a newer view of trading volumes after this quarter’s sequential recovery. RLUSD’s app rollout and subsequent disclosures will be needed to establish actual access and financial contribution; neither can yet be inferred from the partnership announcement.
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Primary sources and further reading
| Source | Title |
|---|---|
| | Robinhood: third-quarter 2026 results and operating-data definitions |
| | Ripple: October 27 Robinhood partnership announcement |
| | Robinhood: second-quarter 2026 comparison figures |
Fact-checked by: Daily Crypto Briefs Fact-Check Desk
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Frequently Asked Questions
How much crypto revenue did Robinhood report in Q3 2026?
Robinhood reported $120 million in cryptocurrency transaction revenue, down 55% year over year. It was up 20% from the $100 million reported for Q2.
Did Robinhood's overall revenue fall with crypto revenue?
No. Total net revenue rose 12% year over year to a record $1.424 billion. Growth in event contracts, options and equities helped offset lower crypto revenue.
How much crypto trading went through Bitstamp?
Robinhood reported $29 billion in Bitstamp crypto notional trading volume and $21 billion on its app, for a combined $50 billion in Q3. Notional volume is trade value, not company revenue.
Did prediction markets earn more than crypto in Q3?
Yes. Robinhood reported $173 million in event-contract revenue compared with $120 million in cryptocurrency revenue. These are revenue figures, not segment-profit comparisons.
Is RLUSD already available in the Robinhood app?
The October 27 Ripple announcement expects RLUSD app availability later in 2026. It says RLUSD is already live on Robinhood Chain and Bitstamp, but does not give an exact app launch date or full eligibility terms.