Figure Tech Leaps Into Crypto IPO Frenzy with Stealth SEC Filing
Crypto's latest unicorn makes its Wall Street play—just don't ask for details.
Another day, another blockchain firm sneaks into the public markets through the SEC's backdoor. Figure Tech just filed confidential paperwork to join the crypto IPO parade, betting investors still have appetite for digital asset plays after last year's bloodbath.
The filing comes as Bitcoin flirts with $50K again and TradFi institutions suddenly remember they 'always believed' in blockchain. Figure's move follows Circle's recent public debut and rumors of a Kraken listing.
No numbers disclosed (thanks, confidential filing), but insiders whisper this could value Figure north of $3B—proving once again that in crypto, you can lose 95% of your value and still call yourself a unicorn.
Will this end like Coinbase's triumphant market entry or FTX's flameout? Place your bets—the house always wins.
TLDR
- Figure Tech eyes 2025 IPO, joining crypto firms going public in droves
- Blockchain firm Figure files for IPO amid rising crypto market momentum
- Figure Technology targets public debut, fueling 2025 crypto IPO boom
- Crypto IPO wave grows as Figure Tech files confidential SEC statement
- Figure joins Circle, Bullish in rush to tap equity markets for blockchain
Figure Technology Solutions, Inc. has submitted a confidential draft registration statement to the U.S. Securities and Exchange Commission. The blockchain-native firm is preparing for an initial public offering expected in 2025. The exact number of shares and pricing remain undisclosed as the review process continues.
The filing was made under the Securities Act of 1933 and follows SEC Rule 135. The IPO will MOVE forward based on market conditions and regulatory approval. This submission marks another step in the growing trend of crypto-focused companies entering public markets.
SoFi co-founder Mike Cagney, who leads the company, shared the announcement online as speculation had already circulated. Figure Tech’s move aligns with recent digital asset firms tapping equity markets for growth. With its offering, Figure enters a competitive landscape of crypto firms planning public debuts.
Figure Technology Targets IPO Amid Sector Momentum
Figure Technology Solutions aims to access public capital to scale its blockchain-based financial services platform. The company specializes in home equity financing and secondary market activity. It positions itself as the largest non-bank provider in the segment.
The firm merged with Figure Markets last month, strengthening its service offerings. That move allowed the firm to consolidate its origination and trading infrastructure. The merger enhances its position ahead of its potential IPO.
In 2019, Figure raised $120 million to support lending solutions, particularly for older homeowners with limited liquidity. That early funding helped build the foundation for its blockchain services. Since then, the company has advanced toward becoming a digital finance infrastructure provider.
Circle’s Public Success Sets Industry Tone
Circle Internet Group recently completed its public offering and saw its stock surge over 500% in two weeks. The USDC stablecoin issuer capitalized on positive sentiment around blockchain-based financial firms. Circle’s performance has encouraged others to prepare filings with the SEC.
This surge in activity shows renewed Optimism in blockchain-linked firms reaching public exchanges. With digital finance gaining legitimacy, more companies are seeking long-term capital. Circle’s success has amplified momentum for upcoming IPOs in the sector.
Figure Tech now joins a peer group that includes Circle and others with similar ambitions. These firms leverage their blockchain foundations to differentiate in traditional markets. Their filings indicate an accelerated push toward mainstream adoption.
Bullish and BitGo Expand Crypto IPO Pipeline
Peter Thiel-backed Bullish also filed to raise over $600 million with a valuation around $4.2 billion. BitGo and Grayscale are pursuing similar plans as they explore public offerings. These companies anchor the growing roster of crypto-native platforms entering the U.S. market.
Bullish operates a digital asset exchange and has positioned itself as a serious capital markets contender. Its public market entry signals confidence in long-term blockchain adoption. As more firms file, competition in the public crypto sector will intensify.
Figure’s announcement confirms that blockchain-native firms view equity markets as critical growth channels. The trend highlights how crypto firms are increasingly intersecting with traditional finance. With the IPO pipeline growing, 2025 could be a pivotal year for the sector.
