SoFi Soars 5.27% Amid Crypto Rally

SoFi Technologies saw its shares surge by 5.27% to $18.86 on August 21, increasing its market capitalization by approximately $1.22 billion.

The gains followed a rally in Bitcoin and other crypto-related stocks, driven by easing yields and anticipation of U.S. digital asset regulations.

SoFi has evolved beyond its origins as a lender with an app, now offering 388,336 crypto products, a stablecoin backed by its banking arm, and an always-on business payments network.