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Cathie Wood's investment management firm ARK Invest sold a further $5 million worth of Coinbase (COIN) stock on Wednesday while buying $2 million of shares in trading platform Robinhood (HOOD) and $1.5 million of online bank SoFi Technologies (SOFI). Source
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SoFi's transition away from directly offering crypto services may be tied to its decision to become a bank holding company. The U.S. Federal Reserve, as part of that approval, told the company that its crypto activities were not permissible under banking rules, though it would be allowed to continue them
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United States personal finance company SoFi Technologies will end crypto trading services for its users by Dec. 19.According to the Nov. 29 announcement, new crypto account openings on SoFi are suspended immediately. All existing SoFi crypto users must either migrate their accounts to Blockchain.com or close them. In addition, customers
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San Francisco’s SoFi Bank, a rising financial institution with 6.2 million customers, has unveiled its substantial cryptocurrency holdings, demonstrating a proactive embrace
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Chairman of the United States Senate Banking Committee Sherrod Brown and three other Democratic committee members sent letters Nov. 21 to federal officials and to Anthony Noto, president of SoFi Technology. They expressed concern about the online bank’s efforts to conform to Federal Reserve Board requirements and nonbank digital asset
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Student loan and financial service provider Social Finance Inc. (SoFi) has received conditional approval from the Office of the Comptroller of the Currency (OCC) to create a full service national bank, provided the new entity does "not engage in any crypto-asset activities or services," the OCC announced on Tuesday. Source
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