Robinhood's Crypto Revenue Doubles to $252M in Q1 2025 Ahead of Bitstamp Acquisition

Robinhood Markets announced its first quarter (Q1) business results on Wednesday, showing remarkable growth in recent months.

This development adds to the list of positive developments for Robinhood this year after the US Securities and Exchange Commission (SEC) stopped investigating the online brokerage platform.

Robinhood records 100% growth in cryptocurrency revenue in Q1

Robinhood Markets announced its Q1 business results on Wednesday, April 30, 2025, with details about the financial results for the first quarter of 2025. The platform's CEO and co-founder, Vlad Tenev, along with CFO Jason Warnick, led the broadcast, which was shared on X (Twitter) and YouTube.

Although Tenev and Warnick had much to say about the brokerage platform's performance in Q1 2025, the highlight was cryptocurrency revenue from January to April.

According to the report, cryptocurrency revenue doubled to $252 million, marking a 100% increase compared to the same period last year. Additionally, cryptocurrency trading volume reached $46 billion, a 28% increase compared to the same period last year.

These are notable achievements in the context of fierce competition from centralized exchanges like Binance and Coinbase.

"We started the year strongly with a 50% revenue growth compared to the same period last year and 106% EPS growth, along with disciplined cost management. We are also actively repurchasing shares, demonstrating our confidence in our long-term growth," Warnick said.

The recent move by the US SEC to stop investigating Robinhood may have added financial momentum. Despite a Wells notice in May 2024 for the platform, the securities regulator ended the investigation without any penalties.

Robinhood shares highlights of strategy and operations

Beyond financial momentum, Robinhood's Q1 results reveal rapid product innovation across various areas, including Robinhood Strategies, Banking, and Cortex. According to Tenev, customers have embraced the platform's services, adding credibility to the platform's notable Q1 revenue.

"...customers responded with record net deposits, Gold registrations, and trading volume across all asset types," Tenev said.

Among the innovations presented, including strategic and operational highlights, is an ongoing Bitstamp acquisition, expected to be completed by mid-2025. BeInCrypto recently reported details about this deal, citing a $200 million deal.

The acquisition occurs as Robinhood seeks to enhance its cryptocurrency services. Bitstamp brings over 50 operating licenses and registrations worldwide. With this, Robinhood will integrate a reputable organizational business into its ecosystem.

Beyond the Bitstamp acquisition, Robinhood is also working to expand globally into the UK and EU, positioning itself as a strong competitor in the cryptocurrency space.

Robinhood is also innovating with prediction markets like Kalshi and advanced trading tools, tapping into the growing demand for diverse cryptocurrency services. Their prediction market has traded over 1 billion event contracts in six months.

With 25.8 million funded customers and $221 billion in platform assets, Robinhood is becoming a financial hub for cryptocurrency-savvy users.

Despite positive developments, Robinhood's HOOD token only slightly increased by 1% in the past 24 hours. At the time of writing, it was trading at $0.00003370 on the MEXC exchange against the USDT stablecoin.