Figure Stock Surges Post-IPO Amid Mixed Crypto Market Signals

Figure Technologies' shares soared 44% in their market debut, reaching a $7.8 billion valuation despite late-session cooling from intraday highs. The blockchain-based lending platform's successful $787 million offering marks another milestone for crypto-adjacent firms accessing public markets.

While Figure's home equity lending business demonstrates strong fundamentals—with $6 billion in H1 loan originations and $29 million net income—investor enthusiasm contrasts sharply with post-IPO performance of peers. Klarna, Circle, and Bullish have all surrendered initial gains, casting shadows on the sustainability of crypto-related valuations.

The coming weeks will test market appetite as Gemini prepares its September listing. Figure's profitability and diversified revenue streams—spanning loan sales, interest income, and origination fees—may prove more resilient than pure-play crypto ventures in the current risk environment.