SoFi Has Nearly 400K Crypto Products But Only Made $1.2M From Them — Here's What That Tells Us

WHY IT MATTERS

Think of SoFi like a bank that also lets you buy crypto through its app. They have almost 400,000 crypto-related accounts, which sounds like a lot — but they only made about $1.2 million from all of them combined. That's roughly $3 per account. It's like opening a lemonade stand that attracts a huge crowd, but everyone only buys a tiny cup. This matters because it shows that just because a company offers crypto doesn't mean it's making good money from it. For everyday users, it suggests that platforms like SoFi keep crypto fees very low to get you in the door, hoping you'll also use their other services like loans or savings accounts.