Robinhood Crypto Trading Revenue Drops by 30% in Q1 2023

Robinhood's Q1 2023 crypto trading revenue saw a 30% decline compared to last year, generating $38 million compared to Q1 2022's $54 million. However, the company's total revenue increased by 47.5%, which was $441 million. The app currently holds $12 billion in crypto custody, a 50% increase compared to the previous quarter. The number of monthly active users has decreased and is only at 12 million, but the company incurred a loss of $511 million due to lower investment returns.