Robinhood Reports 61% Increase in August Crypto Trading Volume

Robinhood announced that its crypto trading volume reached $17.5 billion in August, marking a 61% increase month-over-month, though it represents a 38% decline year-over-year. The total volume comprised $7.4 billion from the Robinhood app and $10.1 billion from Bitstamp. Additionally, the platform's total assets under custody grew 8% to $383.7 billion, and the number of funded customers rose by 120,000 to 28.6 million. Equity trading volume stood at $335.4 billion, with 292.5 million options contracts traded.