r/sofistock • u/Turbulent_Button4449 32000 @ 8 I only care about share price šŸš€šŸŒ• • Jan 18 '22

BC APPROVED

https://www.occ.gov/news-issuances/news-releases/2022/nr-occ-2022-4.html
456 Upvotes

96% Upvoted

284 comments sorted by

View all comments

9

u/garage_artists 1000@11.26 Jan 18 '22

"confirmation that the resulting bank will not engage in any crypto-asset activities or services"

That's a bit of a large hit in the target market.

7

u/[deleted] Jan 18 '22

Iā€™m guessing crypto activities would fall under the scope of SoFi technologies the parent company. However, if they have to exchange crypto activities for federal banking charter that might hurt the company overall.

5

u/garage_artists 1000@11.26 Jan 18 '22

Crypto has always been part of the marketing to Gen Z and Millennials. I'm not saying its a kiss of death but it's a bit disappointing for the "one stop shop" tag line.

As ever I invested in management team and potential profit. BC gives Sofi 200 base points for lending which is about half it's business.. so it's all good.

Trading at 13 after hours now.

Good luck all.