Robinhood, a representative stock and cryptocurrency trading platform in the United States, is drawing market attention by recording a significant increase in cryptocurrency revenue in the second quarter of this year. Robinhood announced on the 7th (local time) that its cryptocurrency revenue for the quarter surged 98% year-on-year to $160 million (approximately 222.4 billion won).
The company's overall key financial indicators also maintained a positive trend. Total net income for the second quarter was $989 million (approximately 1.37 trillion won), a 45% increase from the previous year, and net income jumped 105% to $386 million (approximately 537 billion won). This performance exceeded Wall Street's preliminary expectations.
Through this earnings announcement, Robinhood once again highlighted the clear vision emphasized by its CEO Vlad Tenev. Tenev expressed his ambition to lead the real-world asset tokenization market not only in the United States but also in the global market. This suggests a long-term growth strategy beyond traditional cryptocurrency trading, focusing on digitalizing physical assets based on blockchain.
Despite the positive earnings report, Robinhood's stock price slightly declined in after-hours trading, reflecting some investors' profit-taking moves. Market experts are providing positive assessments, noting that Robinhood's performance and vision could promote a more institutionalized approach to the cryptocurrency industry.
In fact, with an increasingly accepting stance towards cryptocurrencies led by some politicians, including former President Trump, the entry of institutions and major companies into the cryptocurrency and tokenized asset market is accelerating. Attention is focused on how Robinhood's strategy will impact the blockchain industry in the United States.
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