[Muddy Waters Shorts U.S. Crypto-Friendly Bank SOFI, Accuses It of Financial Fraud and Inflating $1 Billion in Profits] Foresight News reports that short-selling firm Muddy Waters has released its latest report, announcing a short position against SoFi Technologies, Inc. (SOFI), the first nationally chartered bank in the U.S. to support Bitcoin and cryptocurrency trading. The report accuses SOFI's management of allegedly recording a $312 million loan from JPMorgan as a 'loan sale,' thereby inflating reported profits and securing management bonuses, while shareholders bear approximately 15% annual dilution. Muddy Waters points out that Utah's UCC filing documents show JPMorgan as a 'senior lender' in the transaction rather than an asset buyer, which contradicts SOFI's accounting treatment. The report suggests that SOFI will eventually have to restate the $312 million transaction, potentially leading to a restatement of approximately $1 billion in previously reported EBITDA and significantly lowering its actual capital adequacy ratio. Additionally, the report accuses SOFI of using a 'secured loan' program to support unrealistic fair value markings for its personal loans, in order to sustain its financial narrative.