Robinhood Markets (NASDAQ: HOOD) stock dropped 7.1% as China’s central bank warned against cryptocurrency speculation, causing investors to sell off holdings. Bitcoin fell over 6% to less than $86,000, Ethereum dropped 7%, and Solana slid 8%. CNBC notes leverage use may be accelerating the crypto crash.

Robinhood reported a 129% increase in transaction-based revenues, driven by a 300% surge in cryptocurrency revenue, contributing significantly to the company’s growth. Although stock and options trading revenue also grew, any slowdown in crypto trading could impact Robinhood’s growth rate and stock performance.

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Read more at Yahoo Finance: Why Robinhood Stock Is Crashing Today