Robinhood revenue from dogecoin falls to $20M in Q3 from $145M in Q2

The proportion of Robinhood Market's (NASDAQ:HOOD) cryptocurrency transaction-based revenue generated by Dogecoin (DOGE-USD) fell to 40% in Q3 from 62% in Q2, the fintech disclosed in its 10-Q filing after Friday's close. That means that dogecoin transaction-based revenue in Q3 was $20.4M vs. ~$144.5M in Q2 2021. Dogecoin (DOGE-USD) transaction-based revenue accounted for 8% of its total net revenue in Q3, 32% in Q2, and 7% in Q1, the company said. On Tuesday, Robinhood (HOOD) reported cryptocurrency revenue sank by 78% from Q2, driving its Q3 earnings miss.