SoFi, a $14 billion financial tech company, is reintroducing Bitcoin and crypto trading for its 10 million users, reversing a prior shutdown linked to Biden administration policies, signaling a major pivot toward crypto adoption in the U.S. financial sector.
The move follows SoFi’s history of regulatory scrutiny, notably in 2022 when Democratic senators raised concerns over its crypto operations, citing risks to investors and the company’s dual role as a bank and crypto exchange.
SoFi’s renewed crypto push aligns with its growth strategy, as seen in its 2024 SEC filing reporting 9.4 million members and $2.67 billion in revenue, positioning it to capitalize on the increasing mainstream acceptance of cryptocurrencies.
