Hacker Newsnew | past | comments | ask | show | jobs | submitlogin

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


I'm having trouble finding a good citation, but I think the GP is referring to a quirk of US accounting rules that causes crypto trades specifically to be counted as revenue. The same does not apply to traditional financial market trades, which I think is what your numbers are.


But we are talking about Robinhood here. I doubt they trade $350B worth of crypto.


Weirdly, it seems there are no GAAP accounting rules for cryptocurrencies yet. Apparently there is informal guidance that it should be treated as an intangible asset:

https://news.bloombergtax.com/financial-accounting/tesla-bit...




Consider applying for YC's Summer 2026 batch! Applications are open till May 4

Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact

Search: