ChainCatcher news, according to Cointelegraph, the U.S. SEC has reached a settlement with Ideanomics over a $40 million cryptocurrency revenue fraud financial reporting.The SEC accused Ideanomics of reporting over $40 million in revenue through false accounting related to cryptocurrency trading in 2019. This false reporting led to an overstatement of financial statements, deceiving shareholders and the public, causing them to misunderstand the company's financial condition.Reportedly, all parties involved agreed to the settlement, neither admitting nor denying the findings of the U.S. SEC's investigation. Former Chairman and CEO Bruno Wu agreed to pay over $3.3 million in illegal gains, pre-judgment interest, and a $200,000 penalty.Ideanomics agreed to pay a $1.4 million fine and will hire an independent compliance consultant to review and strengthen its internal accounting controls.

ChainCatcher news, the financial report released by the stock and cryptocurrency trading brokerage platform Robinhood shows that the company's net revenue for the second quarter was $682 million, with transaction-based revenue of $327 million. Cryptocurrency revenue for the second quarter reached $81 million, a year-on-year increase of 161%, while market expectations were $84.3 million. The cryptocurrency trading volume reached $21.5 billion, a year-on-year increase of 137%.

ChainCatcher news, Robinhood's revenue from cryptocurrency trading increased by 10% year-on-year in the fourth quarter of 2023, reaching $43 million due to the rise in users trading cryptocurrencies. According to FactSet data, the trading platform's total revenue for the fourth quarter was $471 million, exceeding the analysts' average expectation of $454.7 million. Meanwhile, earnings per share were $0.03, surpassing the expected loss of $0.01 per share.

ChainCatcher news, according to Robinhood's latest earnings report, due to a decrease in trading customers, Robinhood's cryptocurrency trading revenue fell by 18% in the second quarter, with revenue related to cryptocurrency activities dropping from $38 million in the previous quarter to $31 million. Supplementary reports indicate that the number of customers trading decreased by 6%, while the nominal trading volume per trader fell by 15%. Previously, Robinhood reported in June that cryptocurrency trading volume in May decreased by 43% compared to April and by 68% year-over-year.Robinhood stated that it will continue to develop in the cryptocurrency industry and also plans to launch a non-custodial wallet later this year, which will allow customers to control their cryptocurrencies.Additionally, Robinhood's total net revenue increased to $486 million, a 10% growth compared to the first quarter of this year. The company also stated that, given the net profit in the second quarter increased to $25 million, it "achieved GAAP profitability for the first time" as a publicly traded company.

ChainCatcher news, according to the third-quarter financial report released by the stock and cryptocurrency trading platform Robinhood (HOOD), Robinhood's revenue in the third quarter was $361 million, with cryptocurrency revenue in the third quarter amounting to $51 million, a 12% decrease from the $58 million in cryptocurrency revenue in the second quarter.In addition, Robinhood's monthly active users in the third quarter dropped to 12.1 million, compared to 14 million in the second quarter and 15.9 million in the first quarter. (CoinDesk)