SoFi Steps Back From Crypto. Cathie Wood's big purchase of SOFI stock
$ARK Innovation ETF(ARKK.US$ Cathie Wood favors innovative companies with a technology angle. Wood reportedly once predicted that $Bitcoin(BTC.CC$ would reach $1.48 million by 2023.
Interestingly, Wood (or more accurately, Ark Invest) bought $1.5 million worth of SOFI stock. That’s a big chunk, and this purchase clearly signals Wood’s confidence in SoFi Technologies. Still, it’s difficult to determine exactly why Wood invested so much money in SoFi.
In contrast, Ark Invest reportedly sold shares of $Coinbase(COIN.US$ stock. Is Wood trying to make a statement here? Is Ark Invest deliberately shifting away from cryptocurrency and blockchain-related investments?
Interestingly, Wood (or more accurately, Ark Invest) bought $1.5 million worth of SOFI stock. That’s a big chunk, and this purchase clearly signals Wood’s confidence in SoFi Technologies. Still, it’s difficult to determine exactly why Wood invested so much money in SoFi.
In contrast, Ark Invest reportedly sold shares of $Coinbase(COIN.US$ stock. Is Wood trying to make a statement here? Is Ark Invest deliberately shifting away from cryptocurrency and blockchain-related investments?
SoFi Technologies Exits the Crypto Trading Business
Recently, SoFi revealed that it’s ending its cryptocurrency trading services on Dec. 19.
SoFi Technologies is migrating its current crypto trading clients to another firm, Blockchain.com. Some clients may choose to stop trading cryptocurrency altogether.
This raises a significant question. Is SoFi Technologies (and, by extension, Ark Invest) trying to distance itself from the crypto community in the wake of the scandals surrounding FTX and Binance?
SoFi Technologies is migrating its current crypto trading clients to another firm, Blockchain.com. Some clients may choose to stop trading cryptocurrency altogether.
This raises a significant question. Is SoFi Technologies (and, by extension, Ark Invest) trying to distance itself from the crypto community in the wake of the scandals surrounding FTX and Binance?
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摸金大仙管住手 : Buying ARK is not a good thing. I have worked on a few ARK stocks, and prices have declined in a stepwise manner.