Robinhood's Q1 Crypto Custody Breaks Records, Reaches $11.5 Billion

Robinhood's first quarter earnings report indicates a positive shift in its crypto business lines, with a rise in assets under custody to $78 billion in Q1 2023. The company's custodied crypto assets reached $11.5 billion, indicating significant growth. Although crypto transaction revenue experienced a slight decline, Robinhood sees potential for growth and aims to maintain competitive pricing. They emphasize a safety-first approach and express respect for regulatory efforts while seeking additional clarity. The availability of Robinhood Wallet globally via the Apple App Store further expands their reach.

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