SoFi's Q3 Crypto Revenue Hits $161M Amid Record Growth
SoFi's cryptocurrency business generated $161.6M in gross revenue but retained just $1.6M after costs in Q3.
SoFi's cryptocurrency business generated $161.6M in gross revenue but retained just $1.6M after costs in Q3. JUST (JST) is trading at $0.1388, up 0.3% since this brief published. This is an original TLT brief synthesising 2 outlets (Bitcoin.com, The Block), plus live market data, as of Tue, 27 Oct 2026 21:00:04 UTC.
This highlights the thin margins in crypto trading for mainstream financial platforms despite growing adoption, even as overall revenue surges.
- SoFi's Q3 crypto gross revenue was $161.6M, up 20% from previous quarter.
- Net crypto revenue after costs was just $1.6M.
- Companywide revenue reached a record $1.39B amid expanding membership.
Both Bitcoin.com and The Block report that SoFi's Q3 crypto gross revenue was $161.6M, with The Block noting a 20% increase from the previous quarter. They agree that the net crypto revenue after costs was $1.6M. However, The Block was the only outlet to report that this marks the first time SoFi has broken out crypto products separately in its financial disclosures.
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- SoFi's Q3 Crypto Revenue Hits $161M Amid Record Growth — this brief
SoFi Technologies has reported $161.6 million in gross transaction revenue from its cryptocurrency business for the third quarter of 2023, according to financial disclosures made on Tuesday.
Despite the significant gross revenue, the company retained just $1.6 million after accounting for transaction costs, showcasing the challenging economics of crypto trading operations.
This disclosure comes as part of SoFi's broader financial report, which showed record companywide revenue of $1.39 billion, a 20% increase in crypto revenue, and a total membership base of 17.1 million users.
The Block notes that this is the first time SoFi has broken out its crypto products separately in financial disclosures, providing greater transparency into the performance of its cryptocurrency business.
Market data shows the overall crypto market cap at $2.77 trillion, with 
Bitcoin up 1.09% in the last 24 hours. The Fear & Greed Index stands at 48, indicating a neutral market sentiment.
Since this brief published about 1 hour ago, JUST (JST) has moved from $0.1384 to $0.1388 — +0.27%.
The chart plots JST's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from TLT's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
At today's peer-to-peer rate, 1 JST ≈ ₦192.16 (about $0.1388), down 0.3% over 24 hours. The naira itself trades about 1.8% above the official rate on the P2P market, so a Nigerian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the asset in this story — live, source-stamped, updated every 15 minutes.
SoFi's Q3 Crypto Revenue Hits $161M Amid Record Growth — questions & answers
How much did SoFi make from crypto transactions in Q3?
SoFi generated $161.6 million in gross crypto transaction revenue in Q3.
What was SoFi's net crypto revenue after costs?
SoFi's net crypto revenue after costs was $1.6 million in Q3.
How does this compare to SoFi's overall performance?
SoFi's overall revenue reached a record $1.39 billion in Q3, with membership growing to 17.1 million.
How much is 1 JUST worth in naira today?
About ₦192.16 at the live peer-to-peer (P2P) USDT rate, which is what Nigerians typically trade at — equivalent to roughly $0.1388. The naira price moves with both JST's US-dollar price and the USDT/NGN rate; use our JUST in naira page for any amount.
Has JUST's price moved since this brief was published?
JST is up 0.27% since this brief first published — trading at $0.1388 now versus $0.1384 at publication. TLT re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original TLT brief that synthesises reporting from Bitcoin.com, The Block, with the key figures cross-checked for agreement across them. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original TLT brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.