Robinhood’s cryptocurrency revenue fell 55% to $120 million in the third quarter, compared with $173 million generated by prediction markets. The company’s total revenue nevertheless rose 12% to a record $1.42 billion, driven in part by $399 million from options and $121 million from equities. Robinhood Chain contributed $26 million and processed more than $80 billion in decentralized exchange volume, while the rest of the crypto business declined 6% to $94 million. Crypto trading volumes increased 23% sequentially to $49.8 billion but fell 38% year over year. Net income declined 14% to $476 million, while funded customers reached 28.7 million and platform assets stood at $396 billion.
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