SoFi’s cryptocurrency business generated $161.6 million in gross transaction revenue during the third quarter, but retained just $1.6 million after transaction costs. The striking disparity emerged alongside record companywide revenue, soaring loan originations and 17.1 million members.
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The gold-platinum ratio has one of the best historical records predicting the stock market’s subsequent 12-month return
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The network contributed $26 million, offsetting a decline in crypto revenue elsewhere, while company-wide revenue and earnings fell short of MarketBeat's consensus.
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Robinhood stock fell after hours as Q3 earnings missed estimates, even as crypto revenue beat analyst forecasts. The post Robinhood Stock Falls After Q3 Earnings Miss: Why Didn't the Crypto Beat Help? appeared first on BeInCrypto.
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The company also requested foreign-exchange authorization, while its existing Ripio Trade platform is scheduled to close on Nov. 30.