Figma Launches Blockchain Equity Tokens as 82.6% Memecoins Use Artificial Growth Strategies Amid Regulatory Tightening

Blockchain innovation continues to reshape financial markets, with developments in tokenized equity, regulatory scrutiny of stablecoins, and the evolving risks in digital asset trading dominating headlines this week. Figma, the design-software company, has taken a notable step by authorizing the issuance of “blockchain common stock,” a move that positions tokens as native equity rather than mere representations of off-chain assets. This approach eliminates counterparty risk and introduces programmable governance features, potentially lowering capital formation costs and expanding access to investors with digital wallets. Unlike tokenized stocks offered by platforms like Robinhood, which function as on-chain receipts for traditional shares, Figma’s model represents a fundamental shift in how equity is structured and traded [1].

Regulatory focus on stablecoins has intensified, with the White House’s GENIUS Act subjecting their issuers to the Bank Secrecy Act. However, analysts argue the compliance obligations are limited to institutions that mint and redeem tokens, not their circulation. Critics compare this to a bar requiring ID for the first purchase but not subsequent ones, highlighting the low compliance costs that make stablecoin transactions cheaper than bank transfers [1]. Meanwhile, a Wall Street Journal case underscores the legal gray areas in bank compliance: an elderly couple suing a financial institution over a $5 million crypto scam loss reveals the tension between customer autonomy and institutional responsibility. Banks often refuse to freeze transactions for fear of legal repercussions, even when fraud is suspected [1].

The risks in the crypto market extend to memecoins, where a recent academic study found 82.6% of 34,000 examined tokens used artificial growth strategies, including wash trading and liquidity pool-based price inflation. Manipulators can artificially inflate memecoin prices with minimal capital—just $54 on average to drive a token up 500%—leveraging low-liquidity decentralized exchanges. Even high-cap tokens are vulnerable, with 88.1% of $1 billion-plus market cap coins having less than 0.1% of their value in liquidity pools [1].

Institutional participation in NFTs is also evolving. GameSquare, a firm with a $141 million market cap, recently issued $5 million in equity in exchange for a CryptoPunk NFT, signaling a shift toward unconventional treasury strategies. This move reflects broader trends of crypto-native firms challenging traditional finance models [1].

Tariff-related financial opportunities emerged as Cantor Fitzgerald began trading access to potential refunds on U.S. import tariffs, offering 20–30% for the right to collect reimbursements if the measures are rescinded. While the firm’s involvement—led by Commerce Secretary Howard Lutnick’s sons—raises conflict-of-interest concerns, the pricing suggests market speculation about policy reversals [1].

Ripple’s XRP token hit a fully diluted valuation of $300 billion despite the XRP Ledger’s limited adoption a decade after its launch. While critics question its long-term viability in cross-border payments, the token’s performance highlights crypto’s capacity for prolonged price anomalies [1].

The convergence of technological innovation, regulatory ambiguity, and market manipulation continues to define the crypto landscape. As firms like Figma experiment with on-chain equity and investors grapple with volatile assets, the industry’s regulatory and structural challenges remain unresolved.

Source: [1] [Thursday links: Blockchain stocks, barroom compliance and NFT treasuries] [https://blockworks.co/news/blockchain-stocks-compliance-treasuries]