Earnings

Robinhood says doge accounted for 62% of crypto revenue in Q2

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Commemorative dogecoins on display in Yichang, China on May 14, 2021.

Barcroft Media | Barcroft Media | Getty Images

Robinhood said crypto accounted for more than half of all transaction-based sales in the second quarter, and 62% of crypto revenue came from dogecoin, a meme-inspired digital coin originally started as a joke.

In its first earnings report since its IPO last month, Robinhood said its revenue from crypto transactions was $233 million, up from $5 million in the year-ago quarter. Crypto accounted for 52% of transaction-based revenue, rising from 17% in the first quarter and 4% in the fourth quarter of last year.

The company also noted that more than 60% of cumulative net-funded…



Source cnbc.com

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