SoFi Keeps About a Penny of Every Dollar of Crypto Revenue
By Unchained
AI summary of the source article
SoFi Technologies reported $161.6 million in gross crypto transaction revenue for the third quarter, yielding $1.6 million in net crypto revenue after a $160.0 million cost deduction. The net figure accounted for roughly 0.1% of SoFi's total net revenue.
Key facts
- SoFi reported $161.6 million in gross crypto transaction revenue and $1.6 million net in Q3 after subtracting a $160.0 million cost line.
- Accounts opened for SoFi Crypto grew to 503,070 by September 30, up from 388,336 at the end of June.
- Across the first nine months of the year, crypto transaction revenue reached $417.5 million gross and $3.7 million net.
Source excerpt · Unchained
The digital bank's third-quarter release shows nearly all of its crypto transaction revenue offset by a matching cost line, and it doesn't break out other crypto spending. The post SoFi Keeps About a Penny of Every Dollar of Crypto Revenue appeared first on Unchained .