Figure Technology (FIGR) Debuts on Nasdaq with $787M IPO Amid Crypto Market Momentum

Figure Technology Solutions began trading on the Nasdaq under the ticker FIGR after raising $787.5 million in its U.S. IPO. The offering priced at $25 per share—above the elevated $20-$22 target range—valuing the blockchain-focused firm at $5.29 billion. Demand exceeded expectations, forcing a 21% increase in shares sold.

The listing follows Circle Internet Financial's successful public debut, signaling growing institutional appetite for stablecoin-adjacent businesses. Founded by ex-SoFi CEO Mike Cagney, Figure attracted backing from DCM, Ribbit Capital, and Morgan Creek during its private funding rounds.

Goldman Sachs, Jefferies, and Bank of America led the underwriting syndicate. The IPO represents another milestone in digital assets' encroachment into traditional finance, coming just weeks after spot Bitcoin ETF approvals reshaped market infrastructure.