SoFi Reports $161.6 Million in Q3 Crypto Revenue, $1.6 Million Net
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The Defiantfirst seen
SoFi Reports $161.6 Million in Q3 Crypto Revenue, $1.6 Million Net
Net crypto transaction revenue rose 38% from Q2 but represented just 0.3% of the bank operator's financial-services segment revenue.…
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Bitcoin News
SoFi Q3 Crypto Transactions Bring in $161M but Leave Little Behind
SoFi’s cryptocurrency business generated $161.6 million in gross transaction revenue during the third quarter, but retained just $1.6 million after transaction costs. The striking disparity emerged alongside record companywide revenue, soaring loan originations and 17.1 million members. Crypto Returns to a Rapidly Expanding Financial Platform SoFi Technologies (Nasdaq: SOFI) disclosed the figures on Tuesday, in […]
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Unchained
SoFi Keeps About a Penny of Every Dollar of Crypto Revenue
SoFi Technologies, the digital bank that returned to crypto investing late last year, recorded $161.6 million in crypto transaction revenue in the third quarter, then subtracted a $160.0 million cost line against it, leaving $1.6 million, according to the earnings release it filed with the SEC on Tuesday morning. SoFi books that remainder as “net crypto transaction revenue” on its…