Robinhood reported record second-quarter results with total revenue of $1.31 billion, up 32% year-over-year, and net income of $573 million, up 48%. Cryptocurrency transaction revenue declined 38% year-over-year to $100 million from $160 million a year earlier. Despite the crypto slowdown, the company continued expanding its digital asset ecosystem by launching Robinhood Chain mainnet, acquiring WonderFi and offering tokenized stocks alongside a decentralized lending product. Growth in event contracts, options and equities offset the crypto weakness, while record net deposits of $21.7 billion brought total platform assets to $369 billion.
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