Robinhood reports record quarterly earnings; BTC ETFs flip to inflows post-FOMC, and MoonPay launches AI product with airdrop.
AI & Agents ·
Robinhood reported record quarterly results on Wednesday, posting net revenue of $1.31 billion, up 32% year-over-year, with net income climbing 48% to $573 million and diluted earnings per share of $0.62 against $0.41 expected. The firm's prediction market business proved a standout performer, generating $156 million in revenue—more than tenfold growth—and surpassing both crypto and equities revenue lines for the first time. The company now operates 13 business lines each generating over $100 million annually, with crypto revenue declining 38% to $100 million as retail trading cooled, while options and equities led growth.
Robinhood's blockchain saw early traction with its decentralized exchanges processing over $12 billion in volume and the network reaching 100 million transactions faster than any predecessor, though the stock itself sold off on the day despite the earnings beat, with price action more aligned to post-FOMC market sentiment. Separately, broader crypto markets stabilized following the Federal Reserve's decision to hold rates steady at 3.50–3.75%, with Bitcoin stabilizing near $64.8k after initial volatility. MoonPay launched its new AI product PayBox alongside a surprise airdrop, while Binance US applied for DCM status as it prepares to enter the prediction market space.