According to Arkham Intelligence, the Robinhood Bitcoin wallet is the third largest holder of cryptocurrency, with a total stored value of more than $3 billion.
This amount places the wallet behind only Binance and Bitfinex exchanges, which hold $6.4 billion and $4.3 billion respectively.
During the second quarter, Robinhood’s revenue from digital asset transactions decreased by 18% as 118,300 BTC were transferred from several crypto wallets to their address.
The digital currency is now stored on the Jump Trading platform.
Unfortunately, the company’s total revenue decreased by 4% over the past year to $193 million.
In July, Robinhood ceased operations with Solana (SOL), Cardano (ADA) and Polygon (MATIC) altcoins due to an unfavorable ruling from the Securities and Exchange Commission (SEC).