Figure Technology Solutions shares opened at $36 per share on Thursday, causing the company’s valuation to surge to $7.6 billion.
Before the company’s initial public offering began trading, Figure’s shares had been priced at $25 for a $5.3 billion valuation.
Figure’s offering comprised over 23 million shares of Class A common stock, along with nearly 8 million of the same class of shares offered by existing stockholders. As of 2:36 p.m. ET, the company’s shares were changing hands at $31.88 per share, according to Yahoo Finance.
The blockchain lender’s initially successful IPO follows in the footsteps of other crypto companies to boast prosperous debuts such as Circle and Bullish, which both also began trading this year. Stock market investors appear to be bullish on the prospects of crypto-based enterprises.
“We were actually contemplating going public last year,” Figure co-founder Mike Cagney said Thursday during a CNBC interview. “For a whole host of reasons, we didn’t do it. It wasn’t the most hospitable environment for a blockchain company to go public last year. That’s changed a lot.”
Since President Trump took office earlier this year, the regulatory environment for crypto-based enterprises has become significantly more welcoming, with many traditional financial institutions showing increased interest and investing heavily.
BitGo, Gemini, Grayscale, and Kraken are other crypto companies eyeing public listings. In an S-1 filing, Gemini said this week it anticipates that its IPO price per share will be between $24 and $26, up from $17 to $19 previously.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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