SoFi Technologies (SOFI) says cryptocurrency remains a non-material component of its business
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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
Lawmakers Call On Bank Regulators To Review SoFi 's (SOFI) Crypto Moves - Bloomberg
November 21, 2022 12:26 PM ESTLawmakers Call On Bank Regulators To Review SoFi 's (NASDAQ: SOFI) Crypto Moves - Bloomberg
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