Robinhood's Q1 crypto revenue halved, sending its stock price down 13%; Visa's stablecoin settlement network expanded to nine chains with an annualized scale of $7 billion; Senator Lummis confirmed that the Clarity Act will be subject to markup in May.

According to Mars Finance and BBX data, yesterday saw the dual progress of earnings season for crypto concept stocks and the expansion of stablecoin infrastructure. Key developments are as follows: Robinhood Markets, Inc. (NASDAQ: $HOOD) released its Q1 2026 earnings report and filed Form 8-K with the SEC after the market closed on April 28th: Total revenue was $1.07 billion (up 15% year-over-year), below the analyst consensus expectation of $1.14 billion; adjusted EPS was $0.38, slightly below the consensus of $0.39; crypto trading revenue plummeted 47% year-over-year to $134 million (compared to $252 million in the same period last year), and crypto trading volume declined by 48% to $24 billion, marking the third consecutive quarter of declining crypto revenue. Meanwhile, event contract (prediction market) revenue surged 320% year-over-year to $147 million, surpassing crypto revenue for the first time to become the largest source of trading revenue, with a record 8.8 billion contracts traded in the quarter; dragged down by the earnings report, $HOOD closed down approximately 13.24% yesterday at $71.20. Visa Inc. (NYSE: $V) announced in an official BusinessWire press release on April 29 that it has added five blockchains—Arc, Base, Canton, Polygon, and Tempo—to its global stablecoin settlement pilot program, expanding the total number of supported networks to nine (previously Ethereum, Solana, Avalanche, and Stellar); the annualized stablecoin settlement volume reached $7 billion, a 50% increase from the previous quarter. The pilot program allows issuing banks and acquiring banks to use stablecoins instead of traditional banking tracks for settlement, currently covering more than 50 countries and over 130 stablecoin-linked card projects, and has expanded to include USDC settlement with Bank of America. Senator Cynthia Lummis publicly confirmed on April 29 that the Senate Banking Committee markup for the CLARITY Act is scheduled for May 2026; at the same time, the SEC announced that it will hold a roundtable discussion on issues related to the CLARITY Act on May 3. The signal of accelerated coordination between regulatory agencies and the legislature is further clarified, providing official timeline support for the previous market expectation of "end of May".