SoFi Reports $161.6 Million in Gross Crypto Revenue, $1.6 Million Net

SoFi Technologies reported $161.6 million in gross cryptocurrency transaction revenue for the third quarter, but just $1.6 million in net crypto transaction revenue after associated costs. The figures, disclosed alongside its quarterly results on Tuesday, show why the headline crypto number should not be read as money retained by the company.

The disparity was the focus of a Bitcoin.com News report and is reflected in SoFi’s earnings statement. Based on the rounded figures, roughly 1% of gross crypto transaction revenue remained after transaction costs, a calculation that describes revenue retention rather than the business’s final profit margin.

That distinction matters when assessing the cryptocurrency operation’s financial contribution. Net transaction revenue is not the same as net income, and the figures alone do not establish whether the crypto business was profitable after all operating expenses. Nor should gross transaction revenue be confused with the total value of customer trading activity.

The Block separately reported that gross crypto transaction revenue increased 20% from the previous quarter. It also noted that SoFi included crypto in its financial-services product breakdown for the first time, giving investors another measure of adoption alongside the revenue disclosure.

SoFi’s earnings release listed approximately 503,000 crypto products at quarter-end. The company said it returned to cryptocurrency investing in the fourth quarter of 2025 through SoFi Crypto, which allows members to buy, sell and hold digital assets. It described net crypto transaction revenue as primarily fees earned from facilitating customer orders.

The cryptocurrency disclosure came against a substantially larger companywide expansion. SoFi reported record quarterly net revenue of about $1.4 billion and net income of $241 million. Membership reached 17.1 million, while loan originations also set a record, according to the company’s results.

Those broader results provide important context for the crypto figures. A large gross revenue line can attract attention without representing a similarly large addition to consolidated net revenue. For comparisons across businesses, the amount remaining after the associated transaction costs offers a more meaningful starting point than the gross figure alone.

Crypto’s longer-term significance could also depend on how it fits within SoFi’s wider customer relationships, rather than transaction revenue in isolation. However, the disclosed figures do not quantify whether offering cryptocurrency causes members to adopt other services or generates additional earnings elsewhere on the platform.

SoFi raised its full-year guidance alongside the results, framing its outlook around continued business momentum. Future disclosures will provide a clearer basis for judging whether crypto adoption translates into a larger net revenue contribution. For now, the quarter demonstrates customer activity and a substantial gross-to-net gap, not a standalone measure of crypto profitability.