In the first quarter of 2026, Robinhood's revenue from cryptocurrency transactions fell by 47% to $134 million. Trading volume nearly halved to $24 billion, which is 48% lower than the same period last year.

This decline has been ongoing since late 2025. In February, the company reported a 38% drop in crypto revenue for the fourth quarter.

Robinhood's recently acquired exchange, Bitstamp, recorded a trading volume of $42 billion, but the platform did not disclose its performance metrics.

Despite the downturn in crypto assets, the company's overall revenue from operations increased by 7% to $623 million. The main driver was event contracts, which saw a 320% increase in revenue. Options rose by 8%, and stocks increased by 46%.

Robinhood's CFO, Shiv Verma, noted that customers are actively using new tools such as prediction markets, futures, and index options.

Robinhood's net profit for the quarter was $346 million, a 3% increase compared to the previous year.

Galaxy's Loss

Cryptocurrency firm Galaxy Digital reported a net loss of $216 million for the first quarter of 2026. The primary reason was the decline in digital asset prices, which impacted the balance sheet.

Galaxy Digital's CEO, Mike Novogratz, described this period as a "transitional year" for the industry. He stated that the sector is evolving from a speculative platform into a technology being integrated across various industries.

During the last quarter, the cryptocurrency market capitalization dropped by approximately 21%, leading to unrealized losses on the company's investments. However, Galaxy's trading volumes remained stable. Novogratz emphasized that the business is beginning to show "decoupling" from asset prices.

Key metrics and developments include:

  • GLXY shares are trading around $25.3;
  • The gross profit from the digital asset segment was $49 million (down from $51 million the previous quarter);
  • The company launched its first production facility at the Helios data center in Texas as part of an agreement with CoreWeave.

Management is betting on data center infrastructure to hedge against market volatility. Once fully deployed, this segment is expected to generate over $1 billion in annual revenue. Galaxy described the launch in Texas as "the most significant risk-reduction event" in the company's history.

Data center revenues are expected to begin growing in the second quarter. In the long term, Galaxy plans to focus on institutional demand, including custodial services, trading, and tokenization. Novogratz believes that financial markets require a "complete overhaul" based on blockchain technology.

In April, Galaxy Research head Alex Thorn stated that Bitcoin mining is becoming increasingly centralized, while the artificial intelligence sector is moving in the opposite direction.