Flockchain Lander Figure technology is the newest public relations encryption company. On Thursday, the shape appeared for the first time on Nasdak After collecting $ 78.5 million in public subscription. The company listed for $ 25 shares, but it increased by approximately 30 % to trade at $ 32 on Thursday afternoon. This means that the company, which is subject to the last line, is traded by a rating of about $ 6 billion.
Founded in 2018, Figure’s commercial centers on mortgage mode on Blockchain, which the company says is rushing to granting and financing household loans. From June 2024 to June of this year, it facilitated about $ 6 billion of loans, according to files with the Securities and Stock Exchange Committee. From January to June, the revenues of more than $ 190 million and about $ 30 million in net income.
“The public subscription is one step in a long process to bring Blockchain to all aspects of capital markets,” Mike Kagni, founder and CEO of Figure, wrote in a letter to investors in the company’s bulletin.
The appearance of Figure’s Nasdaq comes in the hot public subscription market – especially for encryption companies. In June, the Stablecoin Session circle was published in the public subscription that witnessed the company Lift More than a billion dollars and of its market value Jumping To nearly $ 80 billion in late June, before declining to about $ 30 billion.
After the success of Serkel, other encryption companies accumulated in public markets such Bitcoin and ethereum Fulfill Ever Rises. The encryption exchange went up, led by the former New York Stock Exchange, Tom Farley, general In August. The market value is about $ 8.5 billion.
Others have indicated their intention to subscribe later this year. Gemini, the Tyler and Cameron Winklevoss encryption, were set on the Nasdak Stock Exchange. Friday. Grayscale, an ETF source that focuses on encryption, was provided with a public subscription in July. Kraken has long been reported, another encryption exchanged, considering entering public markets.
The number is the second public company, Mike Kagney, its foundations. He is also the founder and former Sofi CEO, which was announced in 2021. Cagney Sofi left in 2017 after it became Involved In the sexual harassment scandal. in luck Conference in 2024, Kajni Recognized He said the drama and said he gave the priority of the company’s culture when he established the number.
“In Sophie, there was … I palated in our culture,” he said. “Thus I think with the shape, it is a ripening process. I expect to leave the market market better than we were able to leave the shape, so I think we are constantly learning.”
https://fortune.com/img-assets/wp-content/uploads/2025/09/GettyImages-1768625425-1-e1757603301198.jpg?resize=1200,600
Source link