Robinhood, the online trading platform, reported a decline in its crypto revenue for Q2 2023, with a drop of 18% from $38 million in Q1 to $31 million. However, the company achieved profits for the first time since going public, with a total net revenue of $468 million, an increase of 10% sequentially. Robinhood attributed the increase in assets under custody (AUC) to higher equity valuations and continued net deposits. Despite the revenue loss, Robinhood saw gains in other categories, including a surge in quarterly interest revenue and adjusted EBITDA growth.