Robinhood Markets reported 28.5 million funded customers at the end of July 2026, while monthly crypto trading volumes fell 33 percent month-over-month to $10.9 billion, highlighting the company’s ongoing struggle with cryptocurrency weakness even as it diversifies into new trading products.
The crypto decline contrasts sharply with strength in other areas. In the second quarter ended June 30, Robinhood posted record revenues of $1.31 billion, up 32 percent year-over-year, driven by surging demand for event contracts and options trading, according to the company’s July 29 earnings report.
Event contracts—prediction markets on real-world outcomes—emerged as Robinhood’s breakout business, generating $156 million in quarterly revenue, up more than tenfold from the prior year. Options trading revenue climbed 29 percent to $342 million, while equities trading revenue jumped 95 percent to $129 million. Cryptocurrency transaction revenue, by contrast, fell 38 percent year-over-year to $100 million.
The company now operates 13 separate business lines that have each reached at least $100 million in annualized revenues, signaling a strategic shift away from reliance on crypto volatility. Robinhood Gold subscribers hit a record 4.8 million, up 39 percent year-over-year, and the company’s credit card business—including the Robinhood Gold Card and newly launched Platinum Card—also crossed the $100 million annualized revenue threshold.
Robinhood’s diversification reflects a broader retail trading industry challenge. Cryptocurrency prices have remained under pressure throughout 2026, dampening the trading volumes that once drove significant revenue for brokers. When crypto markets weaken, retail investor activity cools, reducing transaction fees and trading commissions that historically boosted profitability.
The July crypto decline of 33 percent month-over-month represents a continuation of longer-term weakness. In the second quarter, Robinhood’s app-based crypto notional volumes fell 35 percent year-over-year to $18 billion, though the company’s Bitstamp acquisition contributed $22 billion in additional crypto volumes during the quarter.
Chief Financial Officer Shiv Verma said in the earnings release that “the business is firing on all cylinders” and highlighted how “product velocity continues to deliver new products for customers and drive a more diversified business.” The company’s shift into event contracts, AI-powered trading agents, and digital banking services suggests Robinhood is attempting to reduce its vulnerability to crypto market swings.
Robinhood’s funded customer base grew 7 percent year-over-year, reaching 28.4 million at the end of Q2 and 28.5 million by end of July. Net deposits hit a record $22 billion in the quarter, with an annualized growth rate of 28 percent, and total platform assets reached $369 billion, up 32 percent year-over-year.
Sources
- Robinhood Investor Relations — Q2 2026 earnings report, July 29, 2026
- FX News Group — July 2026 crypto trading volume data, August 12, 2026
- Robinhood Investor Relations — July 2026 operating metrics, August 12, 2026
- Yahoo Finance — Q2 earnings analysis and crypto revenue decline details
