Cointelegraph·10h ago·negative

Robinhood cuts 10% of workforce as crypto trading volumes drop 50%

Robinhood is cutting about 290 jobs (10% of staff) as part of a restructuring. CEO Vlad Tenev said the business has never been stronger, but Q1 results missed estimates with crypto trading volumes down roughly 50% year-on-year.

About 290 employees affected out of ~2,900 full-time staff
Company expects $28M in restructuring charges in Q2 2026
Crypto trading volumes dropped roughly 50% year-on-year in Q1
CEO Tenev says layoffs are proactive to 'flatten' management layers
June month-to-date trading volumes at record levels across equities and options

exchangepeopleImpact 6/10

Why our editor rated this negative

Layoffs at a major retail trading platform signal weakness in crypto trading revenue despite CEO's optimistic framing. 50% drop in crypto volumes is a bearish signal for retail participation.

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