Representatives of the company admitted that in May they faced a sharp decline in the volume of cryptocurrency trading – for the month to $2.1 billion. And over the year, the volume of cryptocurrency trading decreased by 68%.
Average daily revenue from cryptocurrency trading was also down 22% in May and 53% from a year ago, the company added.
At the same time, equity trading volume remained high;
Robinhood last week announced its intention to delist three cryptocurrencies on its platform amid SEC lawsuits against cryptocurrency exchanges Binance and Coinbase.. The company has decided to discontinue support for Cardano (ADA), Polygon (MATIC) and Solana (SOL) as of June 27, 2023
Robinhood has also announced that it intends to remove from its list of available assets that could theoretically lead to violations of applicable U.S. law;
According to the SEC, the securities that qualify include Solana (SOL), Cardano (ADA), Polygon (MATIC), Coti (COTI), Algorand (ALGO), Filecoin (FIL), Cosmos (ATOM), Sandbox (SAND), Axie infinity (AXS) and Decentraland (MANA).