Figma’s IPO Surge Sparks Debate on Market Fairness Versus Crypto Alternatives
Figma's NYSE debut saw its stock surge 250% from its $33 opening price to $115, eclipsing Circle's June IPO performance and decades of traditional market averages. The dramatic first-day pop has reignited criticism of IPO pricing mechanisms, with crypto commentators decrying the process as "legalized theft" favoring institutional investors.
The Core contention lies in investment banks allegedly underpricing offerings, then allocating shares to preferred clients who profit from immediate flips. This contrasts sharply with crypto markets like Hyperliquid's pre-launch perpetuals, which enable transparent price discovery before token launches. The debate mirrors memecoin controversies, where onchain snipers exploit information asymmetries during launches.
