Web3 Diaries-Robinhood Crypto Revenue Fell 18% Sequentially To $31 mn In Q2

Web3 Diaries-Robinhood Crypto Revenue Fell 18% Sequentially To $31 mn In Q2

According to its most recent financial announcement, online trading platform Robinhood (HOOD) posted crypto trading revenue of $31 million in the second quarter, down 18% from the $38 million in the first quarter.

The $193 million in trading revenue across all categories in Q2 represented 16% of the $31 million in cryptocurrency trading income, which experienced a 7% sequential fall.

The company also reported having $11.5 million in crypto assets under custody, the same amount as was held at the end of the first quarter.

MicroStrategy To Stay On Bitcoin Course Even If Spot ETFs Approved: Saylor

Regardless of any future approvals for exchange-traded funds, MicroStrategy co-founder Michael Saylor is certain that his company will continue to be a compelling option for investors to obtain exposure to Bitcoin.

Additionally, he has affirmed that his company intends to keep adding Bitcoin to its balance sheet, possibly with the money from a proposed $750 million share offering.

When asked on August 2 by Bloomberg how an authorized spot Bitcoin ETF may affect the products offered by his company, Michael Saylor expressed his confidence that MicroStrategy would still be able to provide something that spot Bitcoin ETFs cannot.

Amazon, Google Cloud Host 48% of All All Bitcoin Lightning Network Nodes

When it comes to maintaining high degree of uptime and reliability, which reaches almost 100%, the Bitcoin Lightning Network node operators find centralized cloud services highly reliable.

As per the MemPool Space data released on August 2^nd, approximately 48% of all Bitcoin Lightning Network (LN) Nodes are hosted by major centralized cloud service providers, namely Amazon Web Service (AWS) and Google Cloud.

Approximately 29% of Bitcoin Lightning Network nodes are deployed on AWS, while 19% are hosted on Google Cloud.

Bitcoin’s network comprises nodes operated by miners from all over the world. This contrasts with the more centralized approach taken by Google Cloud and AWS. Despite mining farms and pools being dominant in mining activity, thousands of individual Bitcoin miners are distributed across the globe.

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