Crypto Currents: Robinhood crypto revenue collapses 47% in Q1

Robinhood’s weak crypto quarter is colliding with a louder pro‑bitcoin message from Washington, leaving traders to decide whether U.S. exchanges are in a temporary lull or the early stages of a policy driven pivot. At the same time, Visa’s stablecoin buildout, fresh bitcoin treasury disclosures, and new mining and AI infrastructure deals are shifting how listed companies earn, hold, and service digital assets around the core bitcoin (BTC-USD) and ether (ETH-USD) trade. Stay up on the crypto news that matters with “Crypto Currents,” daily from The Fly. Join us at 2 PM ET for your essential briefing on the fast-moving world of cryptocurrency on FlyCast radio.

ROBINHOOD CRYPTO HIT: Robinhood WHITE HOUSE CLARITY PUSH: White House crypto adviser Patrick Witt told the Bitcoin 2026 conference that digital assets will “take off like a rocket ship” once the CLARITY Act passes and hinted at a “big announcement” on a Strategic Bitcoin Reserve, according to BSC News in a post made to X.. 

VISA STABLECOIN BUILD: Visa BITCOIN TREASURY MOVES: Next Technology Holding GDC“>(GDC) filed a prospectus supplement describing a 7,500 bitcoin reserve and board approval to sell tokens to help fund a $100M share repurchase program, effectively turning part of its digital asset stack into a buyback war chest.

iPower BTGO“>(BTGO) custody. Forum Markets MINER TO AI PIVOT: Z Squared (RIOT) disclosed in a regulatory filing, that it converted a $200M variable rate secured term loan from Coinbase Credit to a fixed rate and extended maturity by 364 days with an additional one year option, while keeping bitcoin, USD coin, and cash collateral at Coinbase Custody unchanged.

ON CHAIN ETHER FLOWS: On-chain data shows Bitmine Immersion Technologies , while ether was trading at $2,288.72, according to price data from TipRanks.