Robinhood Markets announced its Q1 earnings on Wednesday, showcasing substantial growth in recent months. This positive news comes after the US Securities and Exchange Commission (SEC) closed its investigation into the online brokerage platform earlier this year.

Highlighted during the earnings report was the remarkable 100% increase in crypto revenue for Robinhood between January and April. The company's CEO, Vlad Tenev, and CFO, Jason Warnick, shared these financial results through a live broadcast on platforms like Twitter and YouTube.

Furthermore, Robinhood's crypto revenues surged to $252 million, marking a significant 100% YoY growth, while crypto trading volumes reached $46 billion, up by 28% YoY despite stiff competition from major exchanges like Binance and Coinbase.

Warnick expressed optimism about the company's performance, stating, "We started the year with strong revenue and EPS growth, focusing on disciplined expense management and aggressive share repurchases."

The positive financial results were complemented by strategic advancements including an upcoming Bitstamp acquisition and plans for international expansion into the UK and EU. These initiatives aim to solidify Robinhood's position in the competitive crypto market.

With a growing customer base of 25.8 million and $221 billion in platform assets, Robinhood is establishing itself as a prominent platform catering to crypto-savvy users, despite the HOOD token showing only a 1% increase in the last 24 hours, trading at $0.00003370 on the MEXC exchange against the USDT stablecoin.