Figure Technology Seeks to Raise Up to $526M in IPO

Figure Technology, a blockchain-based lender, is seeking to raise up to $526.3M in an initial public offering. The company is joining a wave of crypto-related firms tapping into revived investor appetite for new listings. Figure Technology's IPO filing comes as the crypto market continues to recover from a tumultuous 2022.

Figure Technology Solutions, a blockchain-based lender, has filed for an initial public offering (IPO) seeking to raise up to $526.3 million. The company joins a wave of crypto-related firms tapping into revived investor appetite for new listings. This move comes as the crypto market continues to recover from a tumultuous 2022 [1].

Figure Technology, which focuses on leveraging blockchain technology to streamline lending, trading, and investing, aims to sell over 26 million Class A common stock at an expected price of between $18.00 and $20.00 per share [1]. The proceeds from the IPO are set to fund general corporate purposes, including working capital and potential acquisitions, with no immediate plans for dividends [1]. Goldman Sachs, Jefferies, and BofA Securities are lead underwriters for the IPO.

The company's ecosystem revolves around Provenance Blockchain, a distributed proof-of-stake network where Figure holds 20% of the utility token HASH. Figure's revenue rose 22.4% year-over-year to $190.6 million during the first half of 2025, with a net income of $29 million for the period [1].

Figure's IPO filing comes as other crypto firms, such as Gemini Space Station, Inc., are also seeking capital market funding. Gemini, led by the Winklevoss twins, aims to raise up to $361 million by selling 16,666,667 shares of Class A common stock at between $17.00 and $19.00 per share [1]. Goldman Sachs, Citi, Morgan Stanley, and Cantor are overseeing Gemini's IPO.

The crypto market's recovery and the renewed interest in early-stage projects are driving these IPOs. Figure and Gemini join a list of other companies with interests in crypto aiming to launch IPOs, including Grayscale and BitGo. Crypto platform Bullish recently saw its shares jump over 150% on their NYSE debut day last month [1].

The crypto market's shift towards profit-taking rather than greed is also influencing investor decisions. Early-stage projects with actual uses and scalability, such as Ozak AI, are gaining traction [2]. Ozak AI's $OZ token presale has already raised over $2.22 million, with the next target price projected at $2 by 2026 [2].

As the crypto market continues to evolve, these IPOs and presales signal a growing interest in blockchain technology and its potential applications. Investors and financial professionals should closely monitor these developments and assess the risks and opportunities associated with these investments.

References:
[1] https://www.theblock.co/post/369119/crypto-ipo-market-heats-up-with-figure-seeking-500-million-gemini-over-300-million
[2] https://cryptonewsland.com/how-shifts-in-global-crypto-market-sentiment-are-poised-to-boost-ozak-ais-0-005-presale-price-to-a-2-target-by-2026/