BEARISH 45 The Defiant 46M ago · 1 min read 1 read

SoFi blames crypto vendor issue for delayed deposits and withdrawals

AI summary

SoFi says a crypto vendor issue is delaying customer deposits and withdrawals, with incoming transfers awaiting review and outgoing transfers processed only after that review. The bank says customer funds are secure. A deposit and withdrawal freeze at a regulated bank with crypto exposure can erode user confidence and raises operational-risk concerns for crypto-linked banking services.

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