
Robinhood also reported a 76% year-on-year increase in assets under custody, attributed to rising crypto valuations.
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Robinhood’s crypto services contributed to nearly 40% of the firm’s transaction-based revenue and helped the firm produce a net profit for the second straight quarter.
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The shares were bought by FTX founder Sam Bankman-Fried and co-founder Gary Wang last year and have been tussled over since the collapse of FTX.
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