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 income statement, and it is the only crypto number that flows into the company’s $1.385 billion of total net revenue for the quarter.