Robinhood reports $318M revenue and lays off 23% of their staff. Finally, something bad is dying out due to this bear market.

Just in during the earnings season, Robinhood reported a $318M revenue for Q2 2022 which is below estimates of a $321.5M revenue and in addition to that they are even laying out 23% of their staff. It’s no secret that they are really struggling right now and even in comparison to the daily-scandals coinbase it’s worse.

This finally shows also the good site of a bear market and the hype fading away. “Once the tides arise you will see who has been swimming naked”. Robinhood is slowly dying off because people have know seen how scammy they are and moved on to better exchanges. Either they will actually have to get better now or they will actually die off.

Their Crypto wallet could not even help them as it was way too late now. Even the hype investors from Dogecoin etc was hating them now for constantly stopping trading and not listing it. They really have no audience or user-base left now in crypto.