SoFi books $161.6M gross crypto revenue in Q3, keeps just $1.6M
- —Gross crypto transaction revenue hit $161.6M, offset by $160M in costs
- —Net crypto revenue has held near 1% of gross volume through 2026
- —Crypto products rose to 503,070 from 388,336 in Q2
- —Total adjusted net revenue was $1.4B with $241M net income
Why it matters: The case shows how principal-based accounting inflates gross crypto revenue and why investors should compare net figures when sizing fintech crypto businesses.
Source: Crypto Briefing