According to Arkham Intelligence, Robinhood is one of the largest holders of ether, with the 5th largest ETH wallet holding $2.54 billion. The funds in the wallet are held in custody for user balances. Robinhood's crypto trading activity has been declining, with second quarter revenue falling to $31 million compared to the first quarter's $38 million. The company has announced that its wallet product will now support custody, send, and receive for Bitcoin and Dogecoin, in addition to Ethereum swaps, in response to user requests.
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Robinhood identified as one of the largest holders of Ethereum, holding $2.54 billion in custody for users
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