Tech giants are becoming more interested in crypto products and blockchain technologies. The CEO of SoFi Technologies, Anthony Noto, has stated that his family has cryptocurrency holdings, and he urged companies not to ignore blockchain technologies.
Moreover, Noto did not fail to mention the risks coming from cryptocurrencies because of their highly volatile nature.
CEO of SoFi Technologies advocates for crypto investments
In an interview with CNBC, Noto said,
We’re invested in cryptocurrency – we own Bitcoin, we own Ethereum, we own some of the more obscure and different cryptocurrencies, but it’s a very small part of what we own.
He added that the companies that failed to focus on cryptocurrencies and blockchain technologies would be left behind. Noto stated that cryptocurrencies made a small part of his investment portfolio, describing these assets as “unproven” and “highly volatile.”
Noto was giving this interview outside the SoFi stadium, where the Los Angeles Rams won the Super Bowl LVL. During the interview, Noto also talked about the heavy advertisements by blockchain firms during the Super Bowl. He also added that the company had derived major profits from getting the naming rights for the Rams’ home stadium.
SoFi Technologies ventures into sports
“The biggest driving force for us was to try to become a household name, and being associated with the National Football League, and being on prime-time television five or six times a year, and then the Super Bowl, it’s all played out the way that we had thought and then some.”
Noto also mentioned some of the firm’s achievements in its sports venture. He noted that the firm was now regulated by some leading financial institutions globally, including the Federal Deposit Insurance Corp (FDIC), the Federal Reserve and the Office of the Comptroller of the Currency (OCC).
SoFi was among the first companies that adopted cryptocurrencies. The company allowed its customers to redeem cash back rewards for BTC and ETH. This service was launched at the beginning of last year. SoFi users can trade around 30 coins on the platform, as stated on the company’s website.
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