SoFi Bank Reveals Big Profit Investing In Crypto, Holdings Jump $170 Million Including $DOGE & $ADA!

<p>&nbsp;"Wow, SoFi is the best, are there any other banks like this?"</p><p><br /></p><p>In its second quarter financial report, San Francisco-based banking institution SoFi's cryptocurrency holdings reportedly climbed to $170 million, with Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE) and Cardano (ADA) being its biggest holdings.</p><p><br /></p><p>It is already known that SoFi, which has provided services to more than six million customers, has crypto holdings of $166 million, of which $82 million is in BTC, $55 million in ETH, $4.5 million in ADA and $4.9 million in DOGE.</p><p><br /></p><p>Not only that, the bank also holds $2.1 million worth of Solana (SOL), $3.5 million in Litecoin (LTC), 2.9 million Ethereum Classic (ETC) and over $10 million in other digital assets.</p><p><br /></p><p><br /></p><p>Additionally, the investor presentation highlighted SoFi's strong growth in the crypto market with half a million people already becoming new customers of the bank as it facilitates trading for over 22 digital assets.</p><p><br /></p><p>Despite not implementing a staking service, SoFi which holds digital assets and offers crypto services to its users in September 2019 through a partnership with Coinbase has allowed them to buy and sell digital assets.</p><p><br /></p><p>It is widely known that SoFi in February 2022 officially became a bank after it obtained a banking license further making it one of the few traditional banks to venture into crypto.</p><p><br /></p><p>However, tensions rose last year when a United States (US) Senate committee raised concerns about SoFi's compliance with banking regulations that need to be implemented by January 2024.</p><p><br /></p><p>In the wake of FTX's drastic collapse, United States (US) lawmakers are increasingly aggressive against digital assets plus the Securities and Exchange Commission (SEC) filed a lawsuit against Binance and Coinbase.</p>