Robinhood Markets shares (HOOD) fell 8.55% to $83.76 in early trading on October 30, extending the stock’s decline for the month. In the third quarter, crypto revenue dropped 55% to $120 million, representing 8.4% of total revenue, which reached a record $1.424 billion, up 12% year over year. Options and event contracts helped offset the decline in crypto revenue, while net income fell 14% to $476 million. In parallel, Binance’s security incident, estimated at about $6.3 billion, added uncertainty to crypto markets and raised questions about how Robinhood’s customers would respond.
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