Robinhood (NASDAQ: HOOD) released its May 2024 metrics, showing significant growth in several key areas. The platform reported 24.1 million funded customers, an increase of 120,000 from April 2024 and 960,000 year-over-year. Assets under custody (AUC) rose to $135 billion, marking a 9% month-over-month increase and a 65% year-over-year surge. Despite a 30% drop in crypto trading volume from $10.1 billion in April to $7.1 billion in May, Robinhood's assets under management (AUM) increased by 10% month-over-month. The company also saw a 23% month-over-month rise in equity notional trading volumes to $86.8 billion and a 4% increase in options contracts traded to 131.9 million. In May, Robinhood cut margin rates in half and saw its app rise to the top 200 in the iOS app store after Roaring Kitty posted about GameStop for the first time in three years. Bitcoin hit $71,000 during the same period. Additionally, Robinhood acquired the crypto exchange Bitstamp to expand its global reach and ensure participation in crypto markets despite regulatory challenges.