[Robinhood Q1 Cryptocurrency Revenue and Trading Volume Both Drop Nearly 50%] According to The Block, Robinhood's cryptocurrency revenue for the first quarter was $134 million, with nominal in-app trading volume reaching $24 billion, representing year-over-year declines of 47% and 48%, respectively. Robinhood stated that its Ethereum Layer 2 blockchain has processed over 100 million transactions. The company's overall trading revenue grew 7% year-over-year to $623 million, primarily driven by a 320% increase in event contract revenue. Robinhood's options revenue was $260 million, up 8%, while stock revenue was $82 million, up 46%. The company's net profit was $346 million, a 3% year-over-year increase. Robinhood's stock price fell more than 6% in after-hours trading to $76.99.