Keep pulling the thread on Vlad Tenev.
In the first quarter, Robinhood's annualized revenue from its event contracts business was approximately $415 million.
Robinhood's crypto business had an implied annualized revenue pace of $536 million in the first quarter.
Robinhood's revenue from prediction markets is now larger than its revenue from stock trading.
Robinhood has 11 lines of business that each generate $100 million or more in revenue per year.
Robinhood announced a joint venture with Susquehanna to launch a new entity called Rothera.
Robinhood acquired LedgerX, an established futures Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO).
Robinhood's vertically integrated prediction market stack, built on the LedgerX acquisition, is scheduled to go live in the current quarter.
The "Trump accounts" program is a government initiative to create a brokerage account for every newborn in the U.S., seeded with $1,000 from the U.S. Treasury.
Robinhood, in partnership with BNY Mellon, was selected to be the sole initial trustee and broker for the "Trump accounts" program.
The "Trump Accounts" application being developed by Robinhood is scheduled to launch on July 4th.
Robinhood anticipates it will incur $100 million in costs to develop the "Trump accounts" program.
Coinbase announced it is laying off 14% of its staff.