TREE NEWS reports: SoFi reported $161.6 million in third-quarter crypto revenue and $1.6 million in net crypto revenue, with net crypto transaction revenue up 38% from the second quarter. The crypto net figure represented just 0.3% of the bank operator’s financial-services segment revenue.
SoFi Posts $161.6M Q3 Crypto Revenue, $1.6M Net
AI take
The gap between gross crypto revenue and the thin net line is the real story: transaction volume is growing, but it is barely moving the needle for a bank-led financial-services segment. That matters for platforms weighing crypto as a bolt-on versus a core business, since the disclosure shows how much activity can flow through without becoming material to earnings. Whether net crypto transaction revenue keeps climbing at that pace while remaining a rounding error is the open question.
Generated by AI for reference only.
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