Robinhood's cryptocurrency trading volume reached $14.40 billion in the third quarter, more than doubling year-over-year.

According to a report by $The $Block on October 31, $the zero-commission trading platform Robinhood (stock code: HOOD) released its third-quarter financial report. $The data shows that $the cryptocurrency trading volume for $the quarter reached $14.40 billion, a year-on-year increase of 112%, but it has shown a declining trend quarter-over-quarter compared to $21.50 billion in $the second quarter and $36 billion in $the first quarter. In terms of stock trading, $the trading volume reached $286.20 billion, a year-on-year increase of 65%. Specific revenue data indicates that Robinhood's total revenue for $the third quarter was $637 million, slightly below $the market expectation of $651 million. Among this, transaction-related revenue grew by 72% year-on-year to $319 million, with a breakdown showing that cryptocurrency trading revenue was $61 million, a year-on-year increase of 165%, but down from $81 million in $the previous quarter; options trading revenue was $202 million, a year-on-year increase of 63%; and stock trading revenue was $37 million, a year-on-year increase of 37%. $The company's Chief Financial Officer Jason Warnick stated, "$The third quarter performed strongly, with revenue increasing by 36% year-on-year, most of which converted into profit. We have set a goal to achieve another year of profit growth at $the beginning of 2024 and are pleased to have broken revenue and earnings per share records." Notably, Robinhood's assets under custody (AUC) increased by 76% year-on-year to $152.20 billion, primarily due to continued net deposits from users and rising valuations of stocks and cryptocurrencies. Additionally, $the company confirmed this month that it will expand support for Bitcoin and Ethereum futures products and will launch contract products this week that allow users to predict $the outcome of $the U.S. presidential election.