Robinhood’s crypto trading surges, as overall growth slows

NEW YORK (AP) — After helping a new generation of investors get into stocks, Robinhood is increasingly doing the same for cryptocurrencies. More than $4 of every $10 that Robinhood made in revenue during the spring came just from customers trading bitcoin, dogecoin and other cryptocurrencies. Robinhood Markets also said Wednesday that it lost $501.7 million, compared with a profit of $57.6 million in last year’s second quarter. The loss was expected, as was the company’s slowdown in revenue growth. It more than halved to 131% from 309% in the first three months of the year.