Is SoFi Having a Breakthrough Moment?
Plus, your argument about crypto regulation is right...and wrong.
Number of the Week: 11.4 million (explanation below)
Is SoFi Having a Breakthrough Moment?
Longtime FIN readers may recall two things: 1) We are skeptical about the viability of any U.S.-based startup transforming itself into a “superapp”; and 2) While there have been many instances of traditional finance firms buying or attempting to buy fintech startups, we will deem it a crucial milestone when the reverse occurs: a fintech startup buys a large traditional financial company.
Neither of those events has yet taken place, but assuming Saturday’s Financial Times report is correct, the personal finance platform SoFi is embarking on a path that few, if any, fintech companies have ever taken.