⚡ Key Highlights
Interest rates and oil are slipping and equities are rising, but crypto remains under pressure.
SoFi SOFI$15.77 added 500,000 cryptocurrency accounts less than a year after bringing digital asset trading back to its platform, according to its third-quarter earnings report released Tuesday.
The fintech company reported 503,070 crypto accounts as of Sept. 30, following the relaunch of SoFi Crypto in late 2025. The service lets customers buy, sell and hold digital assets alongside traditional banking and investment products.
The business generated $161.6 million in crypto transaction revenue during the quarter, though nearly all of that was offset by $160 million in associated costs. Net crypto transaction revenue came to just $1.63 million.
For the first nine months of 2026, SoFi reported $3.67 million in net crypto transaction revenue.
The figures came as SoFi reported a 44% year-over-year increase in companywide quarterly revenue to $1.39 billion, reflecting growth across its broader financial services business.
SoFi shares rose 11% in premarket trading following the earnings release.
Mike Novogratz’s Galaxy Digital GLXY$16.19 topped third-quarter earnings estimates, in part thanks to bitcoin’s gains during those three months, with treasury and corporate profit of $419 million versus a loss of $42 million the previous quarter.
The company also announced a fresh $200 million buyback authorization after having completed the previous one, with about 9.8 million shares bought back so far this year.
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