Crypto Play Figure Tech Rakes In Over $787M From IPO — Retail Expects Strong Debut

Blockchain-based lender Figure Technology Solutions drew retail buzz on Thursday after it raised $787.5 million in its initial public offering, amid strong interest in crypto-linked firms due to a price rally of digital tokens.

It priced its IPO at $25 per share, which exceeded the $20-$22 price range previously communicated by the company. Figure and some of its shareholders sold 31.5 million shares, as per the firm, compared with the 26 million shares it put on sale on Tuesday.

Based on its outstanding shares, the IPO price values the company at $5.3 billion. The company will make its debut on Nasdaq on Thursday under the ticker symbol "FIGR". Goldman Sachs, Jefferies, and BofA Securities were the lead underwriters of the IPO.

Retail sentiment on Stocktwits about Figure was in the ‘extremely bullish’ territory at the time of writing, while retail chatter was ‘extremely high.’ The ticker has already garnered over 500 followers on Stocktwits.

“Might be opening above $40 tomorrow,” one user wrote.

Co-founded in 2018 by technology entrepreneur Mike Cagney, Figure operates a blockchain-native platform that supports lending, trading, and investment in consumer credit and digital assets. Figure swung to a profit of $29 million in the first half of 2025, compared with a $13 million loss a year earlier, according to its IPO filing.

Billionaire investor Stanley Druckenmiller's Duquesne Family Office is expected to scoop up $50 million worth of shares from Figure's offering.

Earlier this year, USD Coin (USDC) issuer Circle Internet (CRCL) also debuted on the New York Stock Exchange (NYSE). Circle stock has gained around 64.8% since its listing.

Other IPO debuts this year include Peter Thiel-backed Bullish (BLSH), which hasn’t fared as well. Bullish’s stock has dropped by more than 45% since its listing last month.

On Wednesday, Swedish buy-now, pay-later firm logged a 30% jump in its trading debut, as U.S. markets are seeing its busiest IPO week amid hopes of an interest rate cut next week.

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