Morning Minute: Robinhood Posts Its Finest Quarter Ever – Decrypt

Morning Minute is a day by day publication written by Tyler Warner. The evaluation and opinions expressed are his personal and don’t essentially replicate these of Decrypt.

GM!

As we speak’s high information:

• Crypto majors are flat however rebounding after FOMC; BTC at $64.8k
• SEC says it’s able to make guidelines for crypto if Readability Act fails
• Robinhood posts greatest quarter ever, 13 enterprise strains have $100M+ income
• MoonPay launches new AI product ‘PayBox’ together with shock airdrop
• Binance US plans to enter prediction market house, applies for DCM standing

📊 Robinhood Posts Its Finest Quarter Ever

Robinhood reported the perfect quarter in its historical past on Wednesday. They recorded web income of $1.31 billion, up 32% from a 12 months in the past, and diluted EPS of $0.62 (vs $0.41 anticipated). Internet earnings hit $573 million (up 48%), whole platform belongings climbed to $369 billion, and web deposits set a file close to $21.7 billion. It was a blowout on nearly each line.

Arguably, essentially the most fascinating replace got here from their prediction market enterprise. Robinhood’s occasion contracts generated $156 million, up greater than tenfold 12 months over 12 months, and for the primary time, it handed each crypto at $100 million and equities at $129 million. Crypto goes the fallacious method, with digital-asset income falling 38% from $160 million a 12 months in the past as retail buying and selling volumes stored cooling. Choices, up 29% to $342 million, and equities, up 95%, did the heavy lifting as a substitute, together with Trump Account charges that helped pull different income up 54%. CEO Vlad Tenev framed the entire firm as 13 separate enterprise strains every producing over $100 million annualized, all tied to 1 objective of “making everybody an proprietor.”

And sure, Robinhood Chain was coated. On the decision, Tenev stated the chain has seen “nice preliminary traction,” with its DEXs processing greater than $12 billion in quantity and the community turning into the quickest ever to hit 100 million transactions, with TVL round $325 million. He even confirmed a demo of his telephone looking by means of the chain with CASHCAT proven explicitly, resulting in a fast 40% surge within the chain’s main memecoin.

As for the market response, HOOD inventory did unload on the day and didn’t recuperate a lot after hours. Evidently value motion is extra tied to the hawkish FOMC than Robinhood’s earnings beat particularly. However zooming out, the enterprise feels as sturdy as ever. They’ve bought 13 enterprise strains producing $100M+ in income and a number of main lanes for progress. It’s fairly the bullish setup…

🌎 Macro Crypto and Markets

• Crypto majors are principally flat; BTC even at $64.8k; ETH even at $1,920; SOL even at $74; HYPE -3% at $53.20
• High alt movers embody INJ (+4%), NEAR (+4%) and ZEC (+2%)
• Oil even at $83; Gold +1% at $4,080
• Inventory futures are inexperienced and rebounding after a post-FOMC selloff; DOW +0.3%, Nasdaq +1.2%
• The Fed held charges regular at 3.50–3.75% in a 9-3 vote, with three regional presidents dissenting for a hike, essentially the most dissents since 2016; Warsh’s commentary was pretty hawkish and markets bought off afterwards
• Coinbase heads into Thursday’s earnings with Wall Avenue trimming estimates, as a spot-trading droop left Q2 quantity close to $152 billion, nicely under the $178 billion anticipated
• Morgan Stanley executives stated the normal 9-to-5 banking day is dying, arguing that stablecoins and tokenization are pushing finance towards always-on, 24/7 settlement
• SEC Chair Paul Atkins stated the company is “prepared, keen, and ready” to jot down crypto market guidelines itself if the CLARITY Act flounders
• OpenAI’s rogue AI hacked 4 extra platforms apart from Hugging Face, per a quietly up to date incident put up, widening a containment failure that has alarmed safety researchers
• Crypto scams price Individuals an estimated $80.7 billion in 2025, with crypto over half of all cybercrime losses, per a Shopper Federation of America report
• Stablecoin agency Brale stated a brand new protocol removes a serious hurdle to scaling customized tokens, making it simpler for companies to difficulty their very own branded stablecoins

Company Treasuries & ETFs

Meme Coin Tracker

• Meme leaders have been blended; DOGE -1%, SHIB -1%, PEPE even, PENGU -1%, TRUMP +1%, BONK -2%
• Robinhood chain was led by HOODRAT (+140%) and StonkBroker (+12%); current runner Pipedog fell 40%
• Solana leaders included ChooChoo (+15x) and Faucina (+19x); ANSEM -5% at $172M

💰 Token, Airdrop & Protocol Tracker

• MoonPay launched PayBox, a non-custodial AI cost vault inside Claude and ChatGPT, letting the assistant put together crypto and card funds that customers approve with a passkey, together with an airdrop for customers tied to their AI subscription tiers
• ZCash’s Ironwood migration is now 10% full, up from 3% in its first day
• Pump Enjoyable co-founder Sapijiju argued PUMP will turn out to be extra worthwhile long-term than Hyperliquid’s HYPE, claiming Pump Enjoyable’s whole addressable market is “merely method bigger” than the worldwide perps market Hyperliquid operates in, simply “unproven”
• Aave is retiring deployments on six low-adoption chains together with Scroll, zkSync, and Aptos, pulling again about $98.1 million in deposits to chop threat
• Binance US plans to use for CFTC DCM standing, enabling them to enter the prediction market house within the US

🚚 What is occurring in NFTs?

• NFT leaders have been blended; Punks even at 32.3 ETH, BAYC even at 8.35 ETH, Pudgy -4% at 3.91 ETH; Hypurr’s even at 189 HYPE
• StonkBrokers (+25% to three.84 ETH) and Satari (+9%) led high movers
• FWA enabled wrapped FWA tokens to enter its pool as they proceed to develop ERC20 choices; FWA -12% to $18M