January was great for Robinhood. But it's not good enough 🤷‍♂️; NFT lending platform from ex-Coinbase employees. The next big thing? 🤔; Revolut is finally profitable? 👀

FinTech is Eating the World, 21 February

Hey Everyone,

Happy Tuesday! Today’s issue is super interesting as we’re going to look at why Robinhood’s numbers aren’t good enough (& 3 more bonus reads on HOOD 0.00%↑), see whether an NFT lending platform from ex-Coinbase folks could be the next big thing, and take a brief look at Revolut (+ a bonus read on crazy payments wars). Let’s jump straight into the hot stuff 🌶

January was great for Robinhood. But it's not good enough 🤷‍♂️

New data 📊 Retail stock trading darling Robinhood HOOD 0.00%↑ has revealed its January operating data. It shows a rebound in trading volumes that seems to coincide with a slight recovery in the financial markets.

Let’s take a closer look.

The numbers 👉 Robinhood’s January trading volumes were up on a month-over-month basis across equities, options, and cryptocurrencies. Equities saw a 19% jump to $46 billion, while options contracts increased by 10% to nearly 83M. Cryptocurrencies trading volume soared 95% vs. December to $3.7B alongside signs of strength in the bitcoin market.  

The online broker also experienced an increase in its assets under custody last month, which jumped 20% vs. December levels to $74.7B. 

What does it tell us? 🤔 Although January might suggest that Robinhood is having momentum, the results are actually not good enough. Let’s see why and understand what it has to do to be successful again.