Form 8-K SoFi Technologies, Inc. For: Nov 21
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Morgan Stanley sees higher odds of a crypto exit for SoFi after lawmaker letters
November 22, 2022 3:49 PM ESTReacting to news that lawmakers have called for a regulatory review of SoFi Technologies (NASDAQ: SOFI) crypto activities, Morgan Stanley analyst Jeffrey Adelson said the company is now a Bank Holding Company, and it cannot directly generally engage in crypto activities.
Adelson, who has an Equal Weight rating and $7 price target on SoFi, explained that today that four Democratic lawmakers on the Senate Banking Committee issued letters to SoFi and banking regulators (the Fed, FDIC, and OCC), calling for a review of SOFI's crypto trading activities.
SoFi shares declined more than 4%... More
SoFi Technologies (SOFI) says cryptocurrency remains a non-material component of its business
November 21, 2022 3:25 PM ESTSoFi Technologies (NASDAQ: SOFI) disclosed:
In response to a letter received on November 21, 2022 from four Democratic members of the Senate Banking Committee requesting information regarding the activities of SoFi Technologies, Inc. ("SoFi") with respect to digital asset trading, the Company issued the following statement:
SoFi takes our regulatory and compliance commitments seriously, including our non-bank operations within the digital assets space. We believe we... More
