Robinhood diversifies its business to withstand the downturn in the cryptocurrency market, while Coinbase's performance depends on trading cycles

According to The Block, Robinhood's cryptocurrency trading revenue dropped to $100 million, a year-on-year decrease of 37.5%, accounting for 13% of total trading revenue, but the total trading revenue of $776 million tied the Q4 2025 record. Among them, Robinhood's options revenue reached a record high of $342 million, stock revenue reached a record high of $129 million, and it is predicted that the market revenue of $156 million will surpass the cryptocurrency business for the first time. Coinbase activity is linked to trading cycles and lacks similar business buffers.