Sofi

Apollo Chief Economist Torsten Slok warned that agentic AI tools may automatically move household cash out of low-yield checking accounts and into higher-yield alternatives. The shift could pressure banks that depend on inexpensive deposits, while crypto payment infrastructure is already emerging as a potential rail for machine-driven finance.

SoFi and Kraken are connecting key parts of their financial infrastructure, giving Kraken access to SoFi banking services and settlement rails while adding Kraken Prime as a liquidity source for SoFi crypto trades. The agreement also brings SoFiUSD to Kraken as fintech and crypto platforms move deeper into each other’s core markets.

BlackRock, Fidelity, Franklin Templeton, Goldman Sachs and SoFi have publicly supported the Digital Asset Market Clarity Act, adding pressure on Congress to advance crypto market structure legislation. The push comes as Senate negotiators weigh revised text, Wall Street divisions over stablecoin rules, and a narrow window before the August recess.