Figure Technology Soars 40% After Nasdaq Debut, Raising Concerns Over Crypto-Powered Lending Landscape

Figure Technology Solutions Inc.’s successful IPO on the Nasdaq on Thursday sent shares skyrocketing by 40%, reaching a market capitalization of $7.6 billion. The stock opened at $36 under the symbol FIGR and is now trading around $30.33. This impressive performance came after the company’s offering saw the sale of nearly 23 million Class A shares, raising $787.5 million from investors like Ribbit Capital and Stanley Druckenmiller’s Duquesne Family Office. Notable figures in financial services, such as Goldman Sachs, Jefferies, and Bank of America, led the underwriting team, while prominent investors participated.