In the wake of the Robinhood earnings anti-hype cycle, you might imagine that investors are a bit over the consumer trading game. Robinhood rode the pandemic-induced consumer savings and investing boom all the way to the top and is now on the decline as its active user count falters, its revenue shrinks, and it executes a second round of layoffs.
And yet shares of Coinbase ripped higher this morning, so much so that the company has more than doubled from its recent lows. What’s going on? Not earnings — Coinbase doesn’t report until next week. Instead, an unlikely traditional finance company is in the mix. Let’s talk BlackRock, Coinbase, and what we can learn from Robinhood’s earnings that may impact the crypto giant.