eToro's third-quarter revenue from crypto assets reached $3.97 billion, with corresponding costs of $3.89 billion.

On Monday, trading and investment firm eToro released its earnings report, showing significant growth in its crypto division in the third quarter after adding various digital assets and launching staking services. During the reporting period, revenue from "crypto assets" reached $3.97 billion, compared to only $1.4 billion in the same period last year. However, the cost of revenue was a staggering $3.89 billion, generating almost no actual profit, and the company also incurred a net loss of over $18 million from crypto asset derivatives trading.