Robinhood Crypto Chief Operating Officer Tanya Denisova is leaving the company, according to two people familiar with the matter.
According to his LinkedIn profile, Denisova had been employed by the popular trading platform for more than five years.
Neither Robinhood nor Denisova responded to requests for comment.
The departure comes as Robinhood missed first-quarter profit and revenue expectations, largely due to weak crypto trading activity. Crypto-related revenue, one of Robinhood’s largest sources of trading revenue, fell 47% year over year to $134 million from $252 million. The decline comes as the company works to reduce its dependence on cryptocurrency market fluctuations and reposition its business beyond fluctuations in price cycles.
Robinhood allows users to trade stocks, exchange-traded funds (ETFs), options, and cryptocurrencies through a mobile-first app. The company also offers retirement accounts, cash management services, and market insights aimed at simplifying investing and expanding access to financial markets.
The company is expanding its presence in the cryptocurrency space by offering commission-free trading of major digital assets directly within the app, including Bitcoin, Ether (ETH), Solana (SOL), and more.
The company also offers cryptocurrency wallets, on-chain transfers, staking services on select markets, and educational tools aimed at new investors. As part of a broader strategy to bridge traditional finance and digital assets, Robinhood has continued to expand its cryptocurrency offerings internationally, establishing itself as a simple, low-cost entry point to the cryptocurrency market.
read more: Robinhood stock falls 8% as crypto trading revenue slumps, missing out on big profits
