Robinhood rides the crypto wave, brings in $1B in Q4

Robinhood had a bumper fourth quarter. Its revenue jumped 115% compared to the same time last year, to over $1 billion, surpassing analyst expectations of $946 million.

The jump was primarily driven by its crypto trading revenue, which increased by 700%.

In Q4, the platform traded $71 billion in crypto, a massive leap from $14 billion in Q3.

Robinhood’s commission-free model is drawing crypto traders and fueling revenue growth. Its stock rose 13% on Thursday, adding $6.4 billion in market value.

Robinhood isn’t just about meme stocks anymore. The trading platform has expanded into retirement accounts, credit cards, and premium subscriptions.

However, its latest success comes down to a crypto boom that started in the wake of US election results and a Federal Reserve interest rate cut at the end of last year.

With Bitcoin surpassing $100,000—partly driven by President Donald Trump’s pro-crypto stance—analysts expect record trading volumes in 2025.

For Robinhood, competing with big crypto trading platforms like Coinbase, Kraken, and Binance won’t be easy. Compared to Coinbase, which offers 200+ tokens, it has just 22. But, with a history of disrupting traditional markets, Robinhood’s appeal among retail traders is growing.