SoFi Crypto Revenue Rises, but Costs Leave $1.6M Net

| unchainedcrypto.com
SoFi reported $161.6 million in crypto trading revenue in the third quarter of 2026, up 20% from the previous quarter. Related costs were $160 million, leaving $1.6 million in net crypto trading revenue, up 38% quarter over quarter. This is the margin on the disclosed revenue line, not total crypto profit, as SoFi did not detail other crypto-related expenses. Crypto product accounts rose to 503,070 from 388,336, though the figure does not confirm that accounts were active or funded. The crypto business remains small compared with SoFi’s $1.385 billion in total net revenue. The company also reported record revenue of $1.39 billion and net income of $241 million, while brokerage accounts grew 37% year over year to 4.18 million. SoFi shares rose nearly 15% in early trading after the earnings release but remained down 40% year to date. The company relaunched SoFi Crypto in November 2025 after a two-year pause and has expanded into stablecoins, tokenized deposits and crypto infrastructure. The latest earnings release did not mention its SOFIE tokenized deposit or SoFiUSD stablecoin.
Neutral
The report provides no direct price catalyst for a specific cryptocurrency: it focuses on SoFi’s trading revenue, costs and account growth, and does not identify a coin whose market price is directly affected. In the short term, the higher revenue and account count may signal growing retail interest, but the very small net revenue relative to gross trading revenue and the absence of detail on overall crypto profitability limit the bullish read-through. The figures may prompt traders to watch for future adoption or product updates, but are unlikely on their own to materially alter crypto prices or market stability. Longer term, SoFi’s expansion into crypto infrastructure, stablecoins and tokenized deposits could support broader adoption if it produces sustained use and revenue. However, the latest earnings release did not provide new information on SOFIE or SoFiUSD, so the longer-term implications remain speculative rather than a clear trading signal.