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Robinhood Faces Crypto Slide and Market Shake‑Ups
Hong Kong, ChinaWednesday, February 11, 2026
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Robinhood’s latest earnings release saw its stock tumble ~8 % in early trading after the company disclosed a 38 % drop in crypto revenue, pulling down quarterly figures.
Financial Highlights
| Metric | Q4 2025 | YoY % |
|---|---|---|
| Total Revenue | $1.28 billion | +27 % |
| Crypto Transaction Income | $221 million | –17 % |
| Total Value of Crypto Trades | $82 billion | — |
| Core App Trading Activity | –52 % vs. last year | — |
| Options Trading | $314 million | +41 % |
| Equities Sales | $94 million | +54 % |
| Interest Income | $411 million | +39 % |
| Premium Subscribers | 4.2 million | +58 % |
Most crypto trade volume came from Bitstamp, acquired in mid‑2025.
Stock Performance
- Close: $85.60
- Pre‑market open: ~8 % lower
- Dropped below 20‑day and 50‑day moving averages.
Key Levels
| Level | Status |
|---|---|
| $90 (support broken) | — |
| $70–75 (critical range) | Watch closely |
| $65–70 (potential lower bound) | Possible further decline |
Strategic Shift Toward Crypto
- Leadership Focus: Move toward cryptocurrency and tokenized assets.
- Senior manager notes users are buying during market dips, expanding holdings—contrast to earlier caution.
- Stablecoin Yields: Pass through to customers, with clear risk disclosure (no FDIC insurance).
New Development
- Announced a Layer‑2 solution on the Arbitrum network enabling 24/7 trading of tokenized stocks and ETFs.
- Experts caution that real‑time digital trading won’t be available until late 2026 when major exchanges launch their own platforms.
Takeaway
Robinhood’s robust overall revenue growth masks a sharp crypto revenue decline, leading to significant stock volatility. The company’s pivot toward tokenized assets and stablecoin offerings could reshape its revenue mix, but market reception remains uncertain.
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