Anthony Noto, CEO of financial firm SoFi Technologies, discussed why the crypto market is dangerous before sharing that his family is investing in altcoins. He also warned that businesses that ignore the benefits of blockchain technology risk being “lagged behind.” We’ve compiled the highlights of Noto’s CNBC interview for Cryptokoin.com readers…
The Noto family is buying these altcoin projects
Noto told CNBC, “We are interested in Bitcoin as a family,” and which He shared that they prefer altcoin projects:
We have Bitcoin, Ethereum and other more obscure and unique cryptocurrencies, but they make up a very small percentage of our portfolio.
Above statement, CNBC’s Andrew Ross Sorkin’s CEO outside SoFi Stadium in Los Angeles Major crypto exchanges like Coinbase and FTX spend millions of dollars on ads This came after he questioned what he thought of the big game called the “Crypto Bowl” due to the Later in the interview, Noto touched upon the privileges of his platform, where he acknowledges the high volatility of the crypto market:
We always warn you that when you buy cryptocurrencies on SoFi, it is an untested commodity with significant volatility… That’s the truth. However, it’s a great tech platform. It’s a chance to invest in something high-risk.
Companies should consider Blockchain technology
According to the CEO, companies that do not immediately adopt Blockchain technology developments risk losing their competitive advantage. Noto told CNBC:
If you don’t innovate and you don’t use cryptocurrencies as a technological platform, you’ll be left behind. Your company may shrink in size. You will be less competitive as a result. There will be less innovation and a worse customer value proposition.
Former Twitter COO, Noto, who took over as CEO of SoFi in 2018, has claimed that the personal finance company is taking advantage of the naming rights for the Rams’ stadium. In 2019, SoFi paid hundreds of millions of dollars for the naming rights to the building over the next two decades.
About Anthony Noto
Anthony Noto was formerly general manager at Goldman Sachs, CFO of the NFL, COO of Twitter and president of Twitter Ventures. At Goldman Sachs, which he joined in 1999, he was selected as the best analyst by Institutional Investor magazine for research on the internet industry. He has been holding the CEO position of SoFi Technologies since 2018.
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