undefined | Better HN

0 pointsrawtxapp5y ago0 comments

> But I have no idea if people use that feature frequently.

Looks like they made 4.57B$ in revenue with 97M$ in profit [1]. And "We’ve continued to see strong adoption, with 3 million customers [buying bitcoin] through the past year, and in January we saw 1 million new to bitcoin in just one month."

1: https://www.coindesk.com/square-cash-app-bitcoin-revenues-sw...

0 comments

3 comments · 1 top-level

tedunangst5y ago· 2 in thread

It's a bit odd to count that as revenue. Like Robinhood counting their entire trade volume of $350 billion as "revenue".

rodonn5y ago

Unfortunately under US accounting rules you have to do it this way in your financial filings.

woobar5y ago

But bigger brokers (in fact, much more than just brokers) like Merrill ($18B) or Schwab($10B) do not report their transaction volume as revenue.

2 more replies

j / k navigate · click thread line to collapse