Solana’s Institutional Leap: Figure Technology Files for On-Chain Equity Offering
In a landmark move for blockchain-based finance, Figure Technology has officially filed with the U.S. Securities and Exchange Commission (SEC) to issue blockchain-native equity directly on the solana network. Announced at the Solana Breakpoint conference, this strategic filing deliberately bypasses traditional stock exchanges like Nasdaq, positioning Solana as a premier venue for institutional-grade asset tokenization. Figure's chairman, Mike Cagney, highlighted the company's vision for on-chain trading through a decentralized exchange (DEX) model, signaling a significant shift in how equity capital might be raised and traded in the future. This development arrives amidst a notable market frenzy, reportedly triggered by activity from an entity named 'DeepSnitch AI,' though specific details on its connection to this filing remain part of the unfolding narrative. As of December 2025, this filing represents a critical test case for regulatory acceptance and market adoption of tokenized real-world assets (RWAs) on high-performance blockchains. The success of this offering could catalyze a wave of similar moves by other institutions, fundamentally altering the landscape of public capital markets and solidifying Solana's role as a foundational layer for modern financial infrastructure. This convergence of regulatory filing, institutional strategy, and market sentiment underscores a pivotal moment in the maturation of blockchain technology within mainstream finance.
Figure Technology Files for Solana Equity Offering as DeepSnitch AI Triggers Market Frenzy
Figure Technology, a fintech innovator, has filed with the SEC to issue blockchain-native equity directly on Solana—bypassing traditional exchanges like Nasdaq. The move, announced at Solana Breakpoint, positions Solana as a venue for institutional-grade asset tokenization, with Figure's chairman Mike Cagney emphasizing on-chain trading via a decentralized exchange model.
Meanwhile, DeepSnitch AI's presale surges past $792,000, fueled by a 100% bonus incentive. The project's staking metrics—20 million tokens locked—signal aggressive retail participation, contrasting with Figure's institutional pivot.
Upbit Lists Solana-Based HumidiFi (WET) Amid Liquidity Push
South Korea's dominant crypto exchange Upbit will commence trading of HumidiFi's WET token on December 15 at 18:30 KST, offering KRW, BTC, and USDT pairs. The Solana-based protocol, which processes over 35% of daily decentralized exchange volume through its automated market maker technology, provides institutional-grade features including dark pool-like execution and MEV protection.
WET's price doubled following its launch via Jupiter DTF. The Upbit listing aims to deepen liquidity, leveraging the exchange's active Korean won markets. Token holders gain access to fee rebates and staking opportunities.
Solana ETFs Attract $1 Billion in Institutional Flows as Price Eyes Breakout
Solana-focused exchange-traded funds have drawn $674 million in net inflows during a seven-day streak through mid-December, signaling strong institutional demand for exposure to the cryptocurrency. Bitwise dominates the nascent market with $608.81 million in assets, while Grayscale and Fidelity hold $97.74 million and $54.8 million respectively.
Total assets under management across Solana ETFs now hover between $907 million and $1 billion since their October 28 launch. The funds' rapid accumulation comes as SOL consolidates between $120-$135, with technical analysts noting a potential reversal pattern forming beneath the $180 resistance level that has capped gains for two months.
SEC Seeks Public Comment on Nasdaq's Tokenized Stock Proposal
The U.S. Securities and Exchange Commission has opened public feedback channels regarding Nasdaq's proposal to list tokenized equities. The MOVE signals regulatory willingness to explore blockchain integration within traditional market frameworks.
Approval WOULD enable tokenized shares to trade identically to conventional stocks, leveraging blockchain for faster settlements. Galaxy Digital's recent tokenization of its Nasdaq-listed stock on Solana exemplifies this convergence of traditional finance and digital assets.
Industry response remains divided. While organizations like SIFMA endorse the efficiency gains, concerns persist about regulatory alignment. The SEC's review will examine technical implementation, investor protections, and market structure implications.
