Robinhood's Crypto Trading Slumps While Its Core Business Grows Tenfold

Market attention has focused on Robinhood's falling crypto trading revenue, but that's only part of the picture. A far more significant development, according to analysts, is the explosive growth in the rest of the brokerage's business — options trading, subscription products, securities-backed lending, and newer offerings like tokenized assets and prediction markets. Some estimates put growth in these segments at nearly tenfold over recent periods, more than offsetting crypto weakness. This diversification makes Robinhood's business model less dependent on volatile crypto sentiment and more resilient over the long run. Yet the stock continues to trade largely on crypto-related headlines, which some analysts argue leaves its broader growth potential underappreciated. For retail investors, the story is a reminder to look at a brokerage's full revenue mix rather than react to a single headline metric.