Robinhood’s crypto trading surges, as overall growth slows

After helping a new generation of investors get into stocks, Robinhood is increasingly doing the same for cryptocurrencies

NEW YORK -- After helping a new generation of investors get into stocks, Robinhood is increasingly doing the same for cryptocurrencies. More than $4 of every $10 that Robinhood Markets Inc. made in revenue during the spring came just from customers trading bitcoin, dogecoin and other cryptocurrencies. Robinhood also said Wednesday that it lost $501.7 million, or $2.16 per share, compared with a profit of $57.6 million, or 9 cents per share, in last year’s second quarter. The loss was no surprise after the company had earlier given preliminary estimated results for the quarter. The company’s slowdown in revenue growth was also expected: It more than halved to 131% from 309% in the first three months of the year.