Figure Technologies Raises IPO to $693M, Valued at $4.66B Amid Crypto Stock Surge
Stablecoin issuer Figure Technologies has raised the size and price range of its IPO, now marketing shares at $20–$22 and increasing the offering to 31.5 million shares, potentially raising $693 million and valuing the company at $4.66 billion. Figure, co-founded in 2018 by Mike Cagney, operates a blockchain-based platform for lending, trading, and investing in digital assets, and funds home equity loans in just 10 days versus the industry average of 42. The company reported a $29 million profit for the first half of 2025, up from a $13 million loss last year. Figure’s IPO will debut on the Nasdaq under FIGR on Thursday, with Goldman Sachs, Jefferies, and BofA Securities leading the offering. Notably, billionaire Stanley Druckenmiller’s Duquesne Family Office is eyeing up to $50 million in shares.