Robinhood’s crypto revenue fell 47% in Q1 2026, trading volume nearly halved.
In the first quarter of 2026, Robinhood’s revenue from cryptocurrency operations dropped by 47% to $134 million. Trading volume nearly halved to $24 billion, marking a 48% decrease from the previous year.
The decline has been ongoing since the end of 2025. In February, the company had already reported a 38% drop in crypto revenues for the fourth quarter.
The exchange Bitstamp, acquired by Robinhood, recorded a trading volume of $42 billion. The platform did not disclose the dynamics of this indicator.
Despite the downturn in crypto assets, the company’s overall revenue from operations increased by 7% to $623 million. The main driver was event contracts, with income from them rising by 320%. Options grew by 8%, and stocks by 46%.
Robinhood’s CFO Shiv Verma noted that clients are actively using new tools: prediction markets, futures, and index options.
Robinhood’s net profit for the quarter was $346 million—3% higher than the previous year.
Galaxy’s Loss
Cryptocurrency company Galaxy Digital ended the first quarter of 2026 with a net loss of $216 million. The primary reason was the decline in digital asset prices, which impacted the balance sheet.
Galaxy Digital’s head, Mike Novogratz, described this period as a “transitional year” for the industry. According to him, the sector is transforming from a speculative platform into a technology being integrated into various industries.
During the past quarter, the market capitalization of the crypto market fell by approximately 21%. This led to unrealized losses on the company’s investments. However, Galaxy’s trading volumes remained stable. Novogratz noted that the business began to show “decoupling” from asset prices.
Key metrics and directions:
- GLXY shares are trading around $25.3;
- gross profit from the digital asset segment was $49 million (compared to $51 million in the previous quarter);
- the company launched its first production facility at the Helios data center (Texas) under an agreement with CoreWeave.
Management is betting on data center infrastructure to hedge market volatility. It is expected that once fully deployed, this segment will generate more than $1 billion in annual revenue. The launch of the Texas facility was called “the most significant risk-reduction event” in the company’s history by Galaxy.
Data center revenues are expected to start growing in the second quarter. In the long term, Galaxy plans to focus on institutional demand: custodial services, trading, and tokenization. Novogratz is confident that financial markets need a “complete overhaul” based on blockchain.
In April, Galaxy Research head Alex Thorn stated that the mining of the first cryptocurrency is becoming increasingly centralized, while the field of artificial intelligence is moving in the opposite direction.
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