Robinhood reported a record quarterly revenue of $1.42 billion, up 12% year over year. Event contracts generated $173 million, while crypto revenue fell 55% year over year to $120 million. Crypto trading volumes declined 38% to $50 billion, and net income dropped 14% to $476 million. In parallel, Ripple deployed its RLUSD stablecoin on Robinhood Chain and Bitstamp, while Robinhood Chain ranked among the top five blockchains by revenue in its first quarter.
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