Q2 crypto revenue decline hit eToro, Robinhood and Coinbase in the second quarter of 2026, as the wider digital asset market logged a third straight quarterly loss.
eToro said cryptoasset revenue dropped 30% from a year earlier to $1.35 billion, down from $1.91 billion. However, the cost tied to that revenue stayed close to the total, leaving about $12.5 million in net contribution for the quarter. That compared with about $29.3 million a year earlier, based on a calculation from its income statement cited in the source report.
Robinhood also posted a sharp fall. Its cryptocurrency transaction revenue declined 38% year over year to $100 million from $160 million. Meanwhile, total net revenue rose 32% to $1.31 billion.
Q2 Crypto Revenue Decline Tracks Market Drop
Coinbase reported total revenue of $1.2 billion, below the $1.35 billion analyst consensus. It also posted a net loss of $359 million, according to its investor presentation. Notably, bitcoin-related transactions made up 12% of revenue, down from more than 50% historically.
The weaker company figures matched a broader slowdown in crypto trading. CoinGecko said total crypto market capitalization fell 12.6% from the prior quarter to $2.1 trillion. In addition, spot trading volume on centralized exchanges dropped 27.9% to $1.95 trillion.
The quarter also extended a deleveraging trend that had started earlier. VanEck’s digital assets research said bitcoin futures open interest had already dropped by more than 20% in one week in February. That move followed the asset’s steepest one-day fall in years.
Firms Offset Crypto Weakness Elsewhere
Bitcoin came under more pressure in early June. The source said Strategy disclosed a small sale of its bitcoin holdings, which pushed prices to their lowest level since early April. At the same time, stablecoin market capitalization shrank during the quarter for the first time since the third quarter of 2023.
Still, the three companies did not post weak overall quarters. eToro’s net contribution rose 9% from a year earlier, helped by equities and commodities. Robinhood saw options, equities and event contracts grow faster than crypto fell.
Coinbase recorded its 14th straight quarter of positive adjusted EBITDA, supported by subscription and services revenue. Moreover, the source said each company now has less crypto exposure than it had one or two years ago.
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Source: Finance Magnates
