<img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDQvMDE5Njg4OTItNGYwNi03MTdmLTgyNDctYmMzMzdkNTZkYTk1.jpg"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDQvMDE5Njg4OTItNGYwNi03MTdmLTgyNDctYmMzMzdkNTZkYTk1.jpg" alt="Robinhood beats Q1 estimates despite revenue, crypto trading dip">Trading platform Robinhood has still managed to beat Wall Street estimates as its first-quarter revenues fell and its crypto trading volume cooled from a record high in Q4.Robinhood&rsquo;s Q1 results <a data-ct-non-breakable="null" href="https://investors.robinhood.com/static-files/751d013e-a623-4ca8-a8ce-32a570ac9539" rel="null" target="null" text="null" title="null">shared</a> on April 30 show revenues fell 8.6% from the previous quarter to $927 million, topping Zacks analyst <a data-ct-non-breakable="null" href="https://www.zacks.com/stock/news/2458100/robinhood-set-to-report-q1-earnings-heres-how-to-play-hood-stock?art_rec=quote-stock_overview-zacks_news-ID01-txt-2458100" rel="null" target="null" text="null" title="null">estimates</a> by 3.16%.The company&rsquo;s crypto revenue plummeted nearly 30% quarter-on-quarter to $252 million from the firm&rsquo;s <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/robinhood-shares-surge-q4-crypto-revenue" rel="null" target="null" text="null" title="null">record-setting Q4 2024.</a>&nbsp;&nbsp;The drop could be partly attributed to the <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/betting-markets-q1-us-gdp-forecast-flips-negative-amid-tariff-turmoil" rel="null" target="null" text="null" title="null">Trump administration&rsquo;s tariffs,</a> which triggered an 18% fall in the crypto market cap over the quarter.Crypto trading volume on Robinhood also fell 35% over Q1 compared to the fourth quarter of 2024, which the firm attributed to a 10% drop in customer trades placed and a 27% fall in average notional volume per trade.Robinhood CEO Vladimir Tenev <a data-ct-non-breakable="null" href="https://www.youtube.com/watch?v=U7kEL87F-is" rel="null" target="null" text="null" title="null">said</a> on an earnings call that crypto trading volumes would continue to fluctuate but the firm is more focused on capturing as much market share as possible.Despite the fall from last quarter, Robinhood&rsquo;s <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/crypto-casino-revenue-81-billion-2024" rel="null" target="null" text="null" title="null">crypto revenue</a> rose 100% from the same quarter a year ago, while trading volumes jumped 28% over the same period.<figure><img src="https://s3.cointelegraph.com/uploads/2025-05/0196892b-5f76-7359-a531-5b362282e3b3" title="" alt="Robinhood beats Q1 estimates despite revenue, crypto trading dip"><figcaption style="text-align: center;">Robinhood&rsquo;s quarterly revenues by segment since Q1 2023. Source: <a data-ct-non-breakable="null" href="https://investors.robinhood.com/static-files/6cafe48b-4a52-4db9-ba3a-332115b3e37b" rel="null" target="null" text="null" title="null">Robinhood</a></figcaption></figure> The firm also added $500 million to its now $1.5 billion <a data-ct-non-breakable="null" href="https://cointelegraph.com/explained/buyback-and-burn-what-does-it-mean-in-crypto" rel="null" target="null" text="null" title="null">buyback authorization program,</a> aimed at boosting shareholder value and confidence in the firm&rsquo;s financial health. The company has bought back $667 million worth of shares so far.Shares in Robinhood (HOOD) rose 1.51% in after-hours trading on April 30 to $49.85 since the firm disclosed its Q1 results, Google Finance <a data-ct-non-breakable="null" href="https://www.google.com/finance/quote/HOOD:NASDAQ" rel="null" target="null" text="null" title="null">data</a> shows.&nbsp;Tenev said Robinhood&rsquo;s $200 million acquisition of <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/robinhood-buy-bitstamp-crypto-exchange" rel="null" target="null" text="null" title="null">Bitstamp crypto exchange</a> is still looking likely to receive regulatory approval in the middle of 2025, which would enable it to serve institutional investors in the US.Regulatory pressure also eased for Robinhood in Q1 after the Securities and Exchange Commission <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/sec-enforcement-division-closes-investigation-robinhood-crypto" rel="null" target="null" text="null" title="null">closed its investigation</a> into the firm&rsquo;s crypto business on Feb. 21.<h2>Crypto tokenization remains a key focus for Robinhood</h2>Tenev said Robinhood is still exploring <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/crypto-shows-tokenizing-private-stocks-powerful-robinhood-ceo" rel="null" target="null" text="null" title="null">integrating crypto tokenization </a>into the company&rsquo;s services.Tokenizing private equities is a &ldquo;huge unlock&rdquo; for both individuals and companies that can solve a lot of problems in secondary market transactions, he said.Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/ripple-circle-bid-rejected-bloomberg" rel="null" target="null" text="null" title="null">Ripple $4B-$5B bid to purchase Circle rejected &mdash; Report</a>&ldquo;I think that will unlock a ton of economic value for the crypto industry in the US,&rdquo; Tenev said.&nbsp;The Robinhood CEO previously said crypto tokenization could let investors buy tokenized shares in big-name private firms like OpenAI and SpaceX within minutes.&ldquo;That's been kind of our primary policy objective in Washington when it comes to crypto,&rdquo; Tenev said.Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/bitcoinos-starknet-adding-smart-contracts-bitcoin-zk-proofs/" rel="null" target="null" text="null" title="null">ZK-proofs unlock trillions in Bitcoin for DeFi &mdash; BitcoinOS and Starknet</a><template data-name="subscription_form" data-type="defi_newsletter" label="Subscription Form: DeFi Newsletter"></template>

Trading platform Robinhood has still managed to beat Wall Street estimates as its first-quarter revenues fell and its crypto trading volume cooled from a record high in Q4.
Robinhood’s Q1 results shared on April 30 show revenues fell 8.6% from the previous quarter to $927 million, topping Zacks analyst estimates by 3.16%.
The company’s crypto revenue plummeted nearly 30% quarter-on-quarter to $252 million from the firm’s record-setting Q4 2024.  
The drop could be partly attributed to the Trump administration’s tariffs, which triggered an 18% fall in the crypto market cap over the quarter.
Crypto trading volume on Robinhood also fell 35% over Q1 compared to the fourth quarter of 2024, which the firm attributed to a 10% drop in customer trades placed and a 27% fall in average notional volume per trade.
Robinhood CEO Vladimir Tenev said on an earnings call that crypto trading volumes would continue to fluctuate but the firm is more focused on capturing as much market share as possible.
Despite the fall from last quarter, Robinhood’s crypto revenue rose 100% from the same quarter a year ago, while trading volumes jumped 28% over the same period.
Robinhood’s quarterly revenues by segment since Q1 2023. Source: Robinhood
The firm also added $500 million to its now $1.5 billion buyback authorization program, aimed at boosting shareholder value and confidence in the firm’s financial health. The company has bought back $667 million worth of shares so far.
Shares in Robinhood (HOOD) rose 1.51% in after-hours trading on April 30 to $49.85 since the firm disclosed its Q1 results, Google Finance data shows. 
Tenev said Robinhood’s $200 million acquisition of Bitstamp crypto exchange is still looking likely to receive regulatory approval in the middle of 2025, which would enable it to serve institutional investors in the US.
Regulatory pressure also eased for Robinhood in Q1 after the Securities and Exchange Commission closed its investigation into the firm’s crypto business on Feb. 21.
Crypto tokenization remains a key focus for Robinhood
Tenev said Robinhood is still exploring integrating crypto tokenization into the company’s services.
Tokenizing private equities is a “huge unlock” for both individuals and companies that can solve a lot of problems in secondary market transactions, he said.
Related: Ripple $4B-$5B bid to purchase Circle rejected — Report
“I think that will unlock a ton of economic value for the crypto industry in the US,” Tenev said. 
The Robinhood CEO previously said crypto tokenization could let investors buy tokenized shares in big-name private firms like OpenAI and SpaceX within minutes.
“That's been kind of our primary policy objective in Washington when it comes to crypto,” Tenev said.
Magazine: ZK-proofs unlock trillions in Bitcoin for DeFi — BitcoinOS and Starknet

Robinhood surpassed Q1 earnings expectations despite an 8.6% revenue decline and a significant 30% drop in crypto trading revenue compared to the previous quarter. The trading platform's $927 million revenue still outperformed analyst forecasts by 3.16%.  

Robinhood beats Q1 estimates despite revenue, crypto trading dip

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U.S. spot Bitcoin ETFs closed out April with money flowing out as Bitcoin slipped below the $95,000 support level, partly because of worries over Trump’s new tariffs and weak U.S. economic data. According to SoSoValue data, the 12 spot Bitcoin…

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North Carolina&#8217;s House of Representatives passed a crypto investment bill that would allow the state treasurer to invest 5% of state investments into approved cryptocurrencies. According to the official site, the House passed North Carolina&#8217;s Digital Assets Investment Act, or&#8230;

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North Carolina's House of Representatives approved a bill permitting the state treasurer to allocate up to 5% of state investments into approved cryptocurrencies, advancing the Digital Assets Investment Act to the Senate for further consideration.  

North Carolina crypto investment bill passes House vote, headed to Senate

<img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDMvMDE5NTdmMzEtMmRiYy03Y2I5LTg4OTYtN2ZkZjQ4ZDk4NzJk.jpg"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDMvMDE5NTdmMzEtMmRiYy03Y2I5LTg4OTYtN2ZkZjQ4ZDk4NzJk.jpg" alt="‘Bad breach of ethics’ — Musk echoes crypto execs in backlash against WSJ">Tesla CEO Elon Musk has lashed out at The Wall Street Journal (WSJ), calling the publication&rsquo;s latest report &ldquo;an EXTREMELY BAD BREACH OF ETHICS,&rdquo; after it claimed the Tesla board was actively seeking his replacement as CEO.The <a data-ct-non-breakable="null" href="https://www.wsj.com/business/autos/tesla-musk-ceo-search-board-0ce61af9" rel="null" target="null" text="null" title="null">report</a>, published on April 30, alleged that the board had approached recruitment firms due to concerns over Musk&rsquo;s political activity and split focus across multiple ventures.Musk <a data-ct-non-breakable="null" href="https://x.com/elonmusk/status/1917815854647107990" rel="null" target="null" text="null" title="null">took</a> to X to denounce the article, stating that the WSJ deliberately published false information while knowingly excluding an &ldquo;unequivocal denial&rdquo; from Tesla&rsquo;s board.Tesla board chair Robyn Denholm also issued a strong rebuttal early Thursday morning, posting on Tesla&rsquo;s official X account that the board had not contacted recruiters.&ldquo;This is absolutely false,&rdquo; she said. &ldquo;The CEO of Tesla is Elon Musk and the Board is highly confident in his ability to continue executing on the exciting growth plan ahead.&rdquo;<figure><img alt="&lsquo;Bad breach of ethics&rsquo; &mdash; Musk echoes crypto execs in backlash against WSJ" src="https://s3.cointelegraph.com/uploads/2025-05/01968a9f-34d8-77da-99d4-1635bc9cb3ec" title=""><figcaption style="text-align: center;">Musk and Tesla board dismissing WSJ report. Source: Elon Musk</figcaption></figure>Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/wall-street-journal-debacle-fuels-us-lawmakers-ill-informed-crusade-against-crypto" rel="null" target="null" text="null" title="null">WSJ debacle fueled US lawmakers&rsquo; ill-informed crusade against crypto</a><h2>Musk under scrutiny for role in DOGE</h2>The WSJ&rsquo;s report comes amid growing scrutiny of Musk&rsquo;s political involvement, particularly his advisory role in US President Donald Trump&rsquo;s Department of Government Efficiency (DOGE).Critics <a data-ct-non-breakable="null" href="https://www.cnbc.com/2025/03/31/elon-musk-says-people-against-his-doge-cuts-are-trying-to-pressure-tesla.html" rel="nofollow noopener" target="_blank" text="null" title="https://www.cnbc.com/2025/03/31/elon-musk-says-people-against-his-doge-cuts-are-trying-to-pressure-tesla.html">argue</a> that his involvement with the Trump administration has hurt Tesla&rsquo;s brand, especially in international markets. Tesla&rsquo;s first-quarter profit plunged 71%, and its market value has declined by over $800 billion since the start of the year.The automaker&rsquo;s Q1&nbsp;results&nbsp;released show revenues hit $19.34 billion, missing Wall Street&nbsp;<a data-ct-non-breakable="null" href="https://www.zacks.com/stock/news/2453237/compared-to-estimates-tesla-tsla-q1-earnings-a-look-at-key-metrics?art_rec=quote-stock_overview-zacks_news-ID01-txt-2453237" rel="null" target="null" text="null" title="null">estimates</a> by 7.85% and marking a 9.2% fall from the same period last year.However, the firm <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/tesla-holds-onto-bitcoin-musk-time-doge-to-drop-significantly" rel="null" target="null" text="null" title="null">held onto its Bitcoin</a> during the first quarter of 2025. Tesla&rsquo;s digital asset holdings dropped 11.61% in value from $1.076 billion to $951 million in Q1, alongside Bitcoin&rsquo;s&nbsp;11.56% price fall to $82,514 over the same time.Musk, who also runs SpaceX, Neuralink, and the recently merged X and xAI, has <a data-ct-non-breakable="null" href="https://www.bbc.com/news/articles/c23vkd57471o" rel="null" target="null" text="null" title="null">agreed</a> to shift more of his time back to Tesla in response to shareholder pressure. According to reports, he is now advising DOGE remotely and has scaled back his physical presence in Washington.Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/elon-musk-sells-x-twitter-to-xai-amid-fraud-lawsuit" rel="null" target="null" text="null" title="null">Elon Musk&rsquo;s sale of X to xAI just made fraud lawsuit &rsquo;a lot spicer&rsquo;</a><h2>Crypto executives lash out at WSJ</h2>Musk&rsquo;s backlash against the WSJ adds to a growing chorus of criticism from crypto executives who have recently accused the outlet of misleading coverage and bias against the <a data-ct-non-breakable="null" href="https://cointelegraph.com/learn/articles/what-is-a-cryptocurrency-a-beginners-guide-to-digital-money" rel="null" target="null" text="null" title="null">digital asset industry</a>.On April 12, Binance&rsquo;s former CEO Changpeng Zhao&nbsp;<a data-ct-non-breakable="null" href="https://cointelegraph.com/news/zhao-claps-back-baseless-plea-deal-allegations" rel="" target="_self" text="null" title="https://cointelegraph.com/news/zhao-claps-back-baseless-plea-deal-allegations">dismissed a WSJ report</a> that claimed he has agreed to provide evidence against Tron founder Justin Sun as part of a plea deal with the United States Department of Justice (DOJ).&ldquo;WSJ is really TRYING here. They seem to have forgotten who went to prison and who didn&rsquo;t,&rdquo; Zhao wrote in an April 12 X&nbsp;post. &ldquo;People who become gov witnesses don&rsquo;t go to prison. They are protected. I heard someone paid WSJ employees to smear me.&rdquo;<figure><img alt="&lsquo;Bad breach of ethics&rsquo; &mdash; Musk echoes crypto execs in backlash against WSJ" src="https://s3.cointelegraph.com/uploads/2025-05/01968aa3-78a1-70ad-ab37-8c04291db525" title=""><figcaption style="text-align: center;">Soruce: CZ</figcaption></figure>In March 2023, Tether also <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/tether-strikes-at-wsj-over-stale-allegations-of-faked-documents-for-bank-accounts" rel="null" target="null" text="null" title="null">rejected a WSJ report</a> alleging it used fake documents and shell companies to maintain banking access, calling the claims &ldquo;stale,&rdquo; &ldquo;inaccurate,&rdquo; and &ldquo;misleading.&rdquo;Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/cz-hits-back-at-wsj-hong-kong-crypto-etfs-take-50b-equivalent-asia-express/" rel="null" target="null" text="null" title="null">Binance hits back at WSJ, Hong Kong crypto ETF&rsquo;s take &lsquo;$50B equivalent&rsquo;: Asia Express</a><template data-name="subscription_form" data-type="crypto_biz" label="Subscription Form: Crypto Biz Newsletter"></template>

Tesla CEO Elon Musk has lashed out at The Wall Street Journal (WSJ), calling the publication’s latest report “an EXTREMELY BAD BREACH OF ETHICS,” after it claimed the Tesla board was actively seeking his replacement as CEO.
The report, published on April 30, alleged that the board had approached recruitment firms due to concerns over Musk’s political activity and split focus across multiple ventures.
Musk took to X to denounce the article, stating that the WSJ deliberately published false information while knowingly excluding an “unequivocal denial” from Tesla’s board.
Tesla board chair Robyn Denholm also issued a strong rebuttal early Thursday morning, posting on Tesla’s official X account that the board had not contacted recruiters.
“This is absolutely false,” she said. “The CEO of Tesla is Elon Musk and the Board is highly confident in his ability to continue executing on the exciting growth plan ahead.”
Musk and Tesla board dismissing WSJ report. Source: Elon Musk
Related: WSJ debacle fueled US lawmakers’ ill-informed crusade against crypto
Musk under scrutiny for role in DOGE
The WSJ’s report comes amid growing scrutiny of Musk’s political involvement, particularly his advisory role in US President Donald Trump’s Department of Government Efficiency (DOGE).
Critics argue that his involvement with the Trump administration has hurt Tesla’s brand, especially in international markets. Tesla’s first-quarter profit plunged 71%, and its market value has declined by over $800 billion since the start of the year.
The automaker’s Q1 results released show revenues hit $19.34 billion, missing Wall Street estimates by 7.85% and marking a 9.2% fall from the same period last year.
However, the firm held onto its Bitcoin during the first quarter of 2025. Tesla’s digital asset holdings dropped 11.61% in value from $1.076 billion to $951 million in Q1, alongside Bitcoin’s 11.56% price fall to $82,514 over the same time.
Musk, who also runs SpaceX, Neuralink, and the recently merged X and xAI, has agreed to shift more of his time back to Tesla in response to shareholder pressure. According to reports, he is now advising DOGE remotely and has scaled back his physical presence in Washington.
Related: Elon Musk’s sale of X to xAI just made fraud lawsuit ’a lot spicer’
Crypto executives lash out at WSJ
Musk’s backlash against the WSJ adds to a growing chorus of criticism from crypto executives who have recently accused the outlet of misleading coverage and bias against the digital asset industry.
On April 12, Binance’s former CEO Changpeng Zhao dismissed a WSJ report that claimed he has agreed to provide evidence against Tron founder Justin Sun as part of a plea deal with the United States Department of Justice (DOJ).
“WSJ is really TRYING here. They seem to have forgotten who went to prison and who didn’t,” Zhao wrote in an April 12 X post. “People who become gov witnesses don’t go to prison. They are protected. I heard someone paid WSJ employees to smear me.”
Soruce: CZ
In March 2023, Tether also rejected a WSJ report alleging it used fake documents and shell companies to maintain banking access, calling the claims “stale,” “inaccurate,” and “misleading.”
Magazine: Binance hits back at WSJ, Hong Kong crypto ETF’s take ‘$50B equivalent’: Asia Express

Elon Musk strongly criticized The Wall Street Journal (WSJ) for its report claiming Tesla's board was seeking his replacement, calling it an "EXTREMELY BAD BREACH OF ETHICS." Musk accused the WSJ of publishing false information, sparking backlash from crypto executives who echoed his sentiments.  

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Robinhood beats Q1 estimates despite revenue, crypto trading dip

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