SoFi reported 388,336 cumulative crypto products as of June 30 and posted Q2 gross crypto transaction revenue of $134.267 million with $133.084 million in transaction costs, leaving $1.183 million of net crypto transaction revenue for the quarter (~0.88% of gross) and about $2.0 million for the first half. SoFi records crypto on a gross principal basis after its phased consumer crypto trading launch on Nov 11, 2025; net revenue rose 38.8% sequentially from $852k in Q1 to $1.183m in Q2, but the low take rate and lack of disclosed standalone crypto profitability limit positive implications for crypto adoption and market impact.

Bearish

Predictions Markets

See what traders are focused on

View analytics →

SoFi Technologies, the digital financial services company, reported 388,336 cumulative Crypto products as of June 30. Meanwhile, the company's Q2 filing reported just $1.183 million of net crypto transaction revenue.

The filed earnings release lists $134 million of crypto transaction revenue and $133 million of cost of crypto transaction revenue for the quarter. Their difference left about 0.88% of the gross revenue line as net transaction revenue.

That percentage is not even a profit margin. The $1.183 million is simply the revenue line before broader operating expenses and other costs, and SoFi does not disclose a standalone crypto profit figure.

Mastercard frantically doubles down on crypto to avoid becoming irrelevant and losing control

Mastercard's expanding crypto partnerships suggest adoption, but critics argue the payments giant is shaping crypto to keep control.

Mar 13, 2026 · Liam 'Akiba' Wright

Why the gross line is so large

In its first-quarter Form 10-Q, SoFi said it records crypto transactions on a gross basis because it acts as principal. It buys digital assets from, or sells them to, third-party liquidity providers before transferring the assets to or from member accounts.

SoFi books money from member buys and sells in its gross crypto revenue line, along with transaction fees after rewards. Most of that money flows straight back out to cover the assets SoFi buys for members and the payments tied to member sales. What remains is net crypto transaction revenue, driven mainly by the fees SoFi collects for handling each order.

The net line improved sequentially from a small base. SoFi reported $852,000 of net crypto transaction revenue in Q1, when $121 million of gross revenue was offset by $120 million of transaction costs. Q2 net revenue was $331,000 higher, an increase of about 38.8%, and the first-half total reached $2 million.

Robinhood’s $221 million crypto revenue drop shows crypto winter isn’t on chain and retail already moved

If you want a real retail barometer, follow the revenue line that depends on ordinary users.

Feb 15, 2026 · Andjela Radmilac

It's worth noting that the two numbers relate to different time periods. SoFi’s tally of 388,336 products covers every crypto account opened through quarter-end. The $1.183 million covers revenue from Q2 alone. So we can't calculate other useful metrics such as per-user take rate, as that would mix cumulative account count with three months of revenue.

Banks are building the rails to profit from 13.9 million BTC they do not own

Major financial institutions are building Bitcoin products, custody, and infrastructure, while Bitwise estimates individuals hold about 13.9 million BTC.

Jul 14, 2026 · Gino Matos

SoFi announced the phased launch of consumer crypto trading on Nov. 11, 2025. Q2 shows that net transaction revenue increased after the launch, but not crypto profitability.

The post SoFi reported 388,336 crypto products, but Q2 net transaction revenue only reached $1.2 million appeared first on CryptoSlate.

Read the article at CryptoSlate