Figure
Transforming the financial services industry using blockchain
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Project Overview
Figure is a financial technology company using the Provenance Blockchain for loan origination, equity management, private fund services, banking, and payments sectors, bringing speed, efficiency, and savings to both consumers and institutions. Figure Equity Solutions is a one-stop solution for private companies and startups to raise capital, manage equity, and trade shares on a single platform. Figure Marketplace is a blockchain-based investment platform that provides access to a variety of private companies and private funds.
Figure Plans to Raise $600M to Acquire AI Real Estate Lending Platform Kiavi
Figure Technology Solutions, a Nasdaq-listed blockchain financial platform, announced plans to issue senior secured notes to qualified institutional investors to raise $600 million, subject to market conditions. The proceeds from this financing will be primarily used for the cash consideration to acquire Kiavi, as well as for general corporate purposes and related issuance expenses. (Globenewswire)
Paradis Labs: Agility Plans Fourth Quarter SPAC Listing via CCXI, with Approximately $640 Million in Private Placement
Odaily Odaily Planet Daily reports that Paradis Labs announced on the X platform that Agility plans to go public via a SPAC merger with CCXI around the fourth quarter, with its stock ticker changing to AGLT. Its private placement fundraising amounts to approximately $640 million, with support from investors including AMZN, NVDA, SoftBank, DCVC, among others. Approximately 100 Digit humanoid robots have been deployed across 9 facilities including those of AMZN, GXO, Schaeffler, Toyota, and MELI. In Schaeffler's 8 deployed units and GXO's 3 pre-booked deployments, accuracy rates stand at around 98%. Agility states that the payback period for owning one Digit humanoid robot is approximately 1.1 years. Orders for Digit v5 exceed $300 million, with the version slated for release in 2026; the pipeline includes over 30 customers.Agility is the first company to utilize NVDA Halos for full-stack robotics safety. Its RoboFab facility in Oregon has an annual production capacity exceeding 10,000 units, with approximately 75% of components sourced from the United States. As annual production scales up to over 10,000 units, the bill of materials cost is expected to drop from $125,000 to approximately $15,000 to $20,000. Paradis Labs indicates that, combining technology and commercialization, Agility is the most advanced among Western humanoid robot OEMs; Figure's deployment at BMW remains controversial, TSLA currently does not sell any units externally, Apptronik has no current deployments, and Boston Dynamics has robotic products but its public listing progress is slower, with no customers expected at least until 2027.
a16z Leads Special’s Funding Round; Former DOGE Team Bets on AI-Driven M&A Cost Reduction
According to Tech in Asia, Special, an AI-powered M&A firm co-founded by Nate Cavanaugh and Justin Fox—both former staff members of the U.S. government’s Department of Government Efficiency (DOGE)—has announced a funding round of undisclosed amount, led by Andreessen Horowitz (a16z). Investors include Antonio Gracias, founder of Valor Equity Partners; Anthony Armstrong, former CFO of xAI; Brian Armstrong, CEO of Coinbase Global; and Shyam Sankar, CTO of Palantir Technologies. Special plans to acquire service-based businesses by automating workflows with AI to reduce costs, and has already reached an agreement to acquire a Texas-based healthcare company, which will be integrated into Figure Health—the company’s business line focused on aging populations.
Bernstein Reiterates Figure Price Target of $67: Sees 72% Upside Driven by Tokenization
Bernstein has reiterated its "Outperform" rating on Figure Technology Solutions (FIGR) and maintained a price target of $67, implying approximately 72% upside from the current share price of $38.97.Figure posted strong Q1 2026 results: loan origination volume reached $2.9 billion, up 113% year-over-year; adjusted revenue was $167 million, surpassing market expectations by 6% and up 92% year-over-year; adjusted EBITDA was $82.7 million, with a margin of approximately 50%, slightly above market consensus. However, GAAP diluted EPS was $0.18, missing expectations by about 9%, primarily impacted by $26 million in stock-based compensation expenses.Bernstein analysts believe this performance should reshape market perception of Figure, viewing it not as a traditional credit company, but as a "tokenization-driven capital markets platform." Core profitability stems from network fees and operational leverage from scaling, and the valuation framework remains based on 25x 2027 EBITDA. Additionally, the tokenization ecosystem continues to expand: the yield-bearing security token YLDS reached $598 million (up 80% quarter-over-quarter); the stock lending product balance stood at $368 million (up 79%); and the small business loan segment contributed $60 million in revenue.Figure's current share price remains not far from its 2025 IPO offering price of $36, but still significantly below its all-time high of $78. (The Block)
Coinbase Invests Seven-Figure Sum in Centrifuge and Names It a Core Tokenization Partner on Base
Coinbase announced a “seven-figure” strategic investment in Centrifuge and selected it as the primary asset tokenization partner for its public blockchain, Base. Under the partnership, Centrifuge will serve as the core infrastructure for issuing tokenized assets on Base, enabling the onchain issuance and trading of real-world assets (RWAs), including ETFs, credit funds, and structured products. The two parties have previously collaborated—for instance, launching the first compliant onchain S&P 500 index fund on Base.
The Securities Transfer Association Lobbies SEC: Third-Party Stock Tokens Could Threaten Market Integrity
As the tokenization of capital markets intensifies, the Securities Transfer Association (STA) recently submitted a comment letter to the U.S. Securities and Exchange Commission (SEC), warning that stock tokens issued by third-party entities could undermine market integrity. The association is calling on regulators to prioritize tokenized securities authorized by listed companies in future rulemaking.The STA represents numerous Wall Street transfer agents, whose members argue that genuine tokenized stocks should be formally authorized by the issuing company and recorded on the official shareholder register, rather than consisting of "wrapped" token products created by independent platforms.The association points out that third-party stock tokens could confuse investors regarding their actual holdings and expose them to platform credit, custody, and operational risks, without establishing a direct legal relationship with the listed company. Therefore, any innovation exemptions, pilot programs, or permanent regulatory frameworks for tokenized securities should be prioritized for the issuer-supported model. The STA also urges the SEC to reform the existing Direct Registration System (DRS), arguing that the current U.S. securities depository system struggles to meet the real-time transfer and settlement demands of on-chain securities. It recommends that regulators collaborate with the Depository Trust & Clearing Corporation (DTCC) to optimize the digital securities infrastructure.Currently, the global tokenized stock market, valued at approximately $2 billion, is predominantly led by the third-party model, including products launched by Ondo Finance and Kraken, while institutions like Securitize and Figure adopt the issuer-authorized model. (CoinDesk)
FBI Director Kash Patel Criticized by Government Watchdog for Delayed Disclosure of Six-Figure MSTR Holdings
According to CoinDesk, FBI Director Kash Patel purchased stock in Bitcoin-holding company Strategy (MSTR) for between $100,000 and $250,000 on November 21, 2025, but did not disclose it to regulators until May 26, 2026, a delay of over 6 months, violating the 45-day disclosure deadline stipulated by the Stop Trading on Congressional Knowledge Act (STOCK Act). Patel later explained to the Office of Government Ethics that it was an unintentional omission caused by "miscommunication." Dylan Hedtler-Gaudette of government watchdog Project on Government Oversight bluntly criticized his behavior as "illegal," and called for a comprehensive ban on federal officials trading stocks. Deputy Assistant Attorney General William Taylor of the Department of Justice stated in a letter on May 28 that the transaction did not constitute a conflict of interest, and the DOJ has not yet fined him.
ZachXBT Refutes Claims of Dubai Crypto Figure’s Detention, Says Individual Linked to Crypto Scams and Data Ransom
In response to Radha Stirling’s claims regarding alleged abuse of multiple Dubai-based cryptocurrency individuals in UAE detention facilities, on-chain investigator ZachXBT stated that the individuals referred to as “crypto entrepreneurs” are in fact threat actors suspected of involvement in high-impact social engineering cryptocurrency scams and data ransom operations; law enforcement authorities have seized $18.9 million in stolen funds.
Coinbase Invests Seven-Figure Sum in Centrifuge and Names It a Core Tokenization Partner on Base
Coinbase announced a “seven-figure” strategic investment in Centrifuge and selected it as the primary asset tokenization partner for its public blockchain, Base. Under the partnership, Centrifuge will serve as the core infrastructure for issuing tokenized assets on Base, enabling the onchain issuance and trading of real-world assets (RWAs), including ETFs, credit funds, and structured products. The two parties have previously collaborated—for instance, launching the first compliant onchain S&P 500 index fund on Base.
The Securities Transfer Association Lobbies SEC: Third-Party Stock Tokens Could Threaten Market Integrity
As the tokenization of capital markets intensifies, the Securities Transfer Association (STA) recently submitted a comment letter to the U.S. Securities and Exchange Commission (SEC), warning that stock tokens issued by third-party entities could undermine market integrity. The association is calling on regulators to prioritize tokenized securities authorized by listed companies in future rulemaking.The STA represents numerous Wall Street transfer agents, whose members argue that genuine tokenized stocks should be formally authorized by the issuing company and recorded on the official shareholder register, rather than consisting of "wrapped" token products created by independent platforms.The association points out that third-party stock tokens could confuse investors regarding their actual holdings and expose them to platform credit, custody, and operational risks, without establishing a direct legal relationship with the listed company. Therefore, any innovation exemptions, pilot programs, or permanent regulatory frameworks for tokenized securities should be prioritized for the issuer-supported model. The STA also urges the SEC to reform the existing Direct Registration System (DRS), arguing that the current U.S. securities depository system struggles to meet the real-time transfer and settlement demands of on-chain securities. It recommends that regulators collaborate with the Depository Trust & Clearing Corporation (DTCC) to optimize the digital securities infrastructure.Currently, the global tokenized stock market, valued at approximately $2 billion, is predominantly led by the third-party model, including products launched by Ondo Finance and Kraken, while institutions like Securitize and Figure adopt the issuer-authorized model. (CoinDesk)
Serenity: Institutions Begin to Revalue Humanoid Robot Businesses, Chinese Manufacturers' Overall Production Capacity Expected to Reach 100,000 Units by Year-End
"White-Haired Stock Guru" Serenity posted on X platform, pointing out that IBK Research released a report last month on the Boston Dynamics supply chain. The report indicates that Boston Dynamics plans to achieve an annual production capacity of 30,000 units only by 2028, while Chinese robot manufacturers are expected to reach a total production capacity of 100,000 units by the end of 2026. This may lead institutions to begin revaluing the humanoid robot sector.In terms of the competitive landscape, the U.S. camp includes Tesla, Figure, Apptronik, and Agility Robotics, while Boston Dynamics is controlled by South Korea's Hyundai Motor Group. Major Chinese players include Unitree Robotics, Fourier Intelligence, AGIBOT, UBTECH Robotics, and XPeng Robotics. European companies include Neura, Pal Robotics, Wandercraft, and Oversonic.Additionally, IBK Research estimates that Atlas shipments will reach 11,290 units by 2028, and will increase to 20,000, 30,000, 40,000, and 50,000 units respectively between 2029 and 2032. However, Serenity questioned this linear growth model, arguing that the actual volume ramp-up curve is more likely to follow an S-curve. Serenity predicts that shipments could reach 15,000 to 20,000 units by 2028, increase to 40,000 to 70,000 units by 2029, and further rise to 90,000 to 140,000 units by 2030.
Paradis Labs: Agility Plans Fourth Quarter SPAC Listing via CCXI, with Approximately $640 Million in Private Placement
Odaily Odaily Planet Daily reports that Paradis Labs announced on the X platform that Agility plans to go public via a SPAC merger with CCXI around the fourth quarter, with its stock ticker changing to AGLT. Its private placement fundraising amounts to approximately $640 million, with support from investors including AMZN, NVDA, SoftBank, DCVC, among others. Approximately 100 Digit humanoid robots have been deployed across 9 facilities including those of AMZN, GXO, Schaeffler, Toyota, and MELI. In Schaeffler's 8 deployed units and GXO's 3 pre-booked deployments, accuracy rates stand at around 98%. Agility states that the payback period for owning one Digit humanoid robot is approximately 1.1 years. Orders for Digit v5 exceed $300 million, with the version slated for release in 2026; the pipeline includes over 30 customers.Agility is the first company to utilize NVDA Halos for full-stack robotics safety. Its RoboFab facility in Oregon has an annual production capacity exceeding 10,000 units, with approximately 75% of components sourced from the United States. As annual production scales up to over 10,000 units, the bill of materials cost is expected to drop from $125,000 to approximately $15,000 to $20,000. Paradis Labs indicates that, combining technology and commercialization, Agility is the most advanced among Western humanoid robot OEMs; Figure's deployment at BMW remains controversial, TSLA currently does not sell any units externally, Apptronik has no current deployments, and Boston Dynamics has robotic products but its public listing progress is slower, with no customers expected at least until 2027.
OKX Launches "Rookie Showdown" — New Users Can Share a 50,000 USDT Prize Pool
: According to official sources, OKX has officially launched the "Rookie Showdown" event. From now until June 13, 2026, 23:00 (GMT+8), new users who complete designated tasks can claim a welcome package worth 35 USDT, including crypto purchase coupons, trial trading funds, and strategy airdrop vouchers. In addition, new users can also participate in the exclusive trading leaderboard to share a 50,000 USDT prize pool, and have the chance to win rewards such as POP MART Star Figure merchandise.
Coinbase Invests Seven-Figure Sum in Centrifuge and Names It a Core Tokenization Partner on Base
Coinbase announced a “seven-figure” strategic investment in Centrifuge and selected it as the primary asset tokenization partner for its public blockchain, Base. Under the partnership, Centrifuge will serve as the core infrastructure for issuing tokenized assets on Base, enabling the onchain issuance and trading of real-world assets (RWAs), including ETFs, credit funds, and structured products. The two parties have previously collaborated—for instance, launching the first compliant onchain S&P 500 index fund on Base.
Figure Founder Predicts Blockchain Will Reshape Wall Street Credit Infrastructure
Mike Cagney, founder of Figure Technology Solutions (FIGR), stated that the company is pushing to rebuild the underlying infrastructure of traditional credit markets through blockchain, bringing loans, real-world assets (RWA), and even stocks onto the chain. The goal is to enable credit flows to move away from traditional intermediary systems and become "the new infrastructure of Wall Street." According to data, Figure's monthly loan origination volume exceeded $1 billion for the first time in March this year, with total origination reaching $2.9 billion in the first quarter of 2026, an annualized scale of approximately $12 billion.Mike Cagney pointed out that loan tokenization can significantly reduce securitization costs and lower traditional intermediary fees, while enhancing liquidity through continuously updated credit markets, and enabling on-chain credit assets to directly integrate with the DeFi ecosystem, expanding the scope of investor participation. Its Forge platform can bundle loans into standardized asset pools and convert them into tokens usable as collateral within DeFi protocols.Currently, Figure is advancing related business within the Solana ecosystem and plans to expand to Ethereum. Additionally, the company has launched YLDS, a yield-bearing stablecoin with a scale of approximately $600 million, backed by traditional assets such as U.S. Treasury bonds, and is exploring stock tokenization as well as on-chain staking and lending. Mike Cagney stated that blockchain will become one of the most transformative technologies and will redefine the structure of future financial markets. (CoinDesk)
Related news
IREN Signs $2.8 Billion AI Cloud Contract, Year-End AI Cloud Annualized Revenue Target Raised to Over $4 Billion
: Bitcoin mining company IREN has signed a new multi-year cloud services contract worth $2.8 billion with AI developers, raising its year-end AI cloud annualized revenue target to over $4 billion. The company stated that approximately 85% of the revised target has already been contracted, with clients including Microsoft, Nvidia, Perplexity, and Figure AI. IREN co-CEO Daniel Roberts said the company plans to deliver 480 megawatts of AI cloud capacity by 2026, compared to about 3 megawatts a year ago, and aims to reach 1.2 gigawatts by 2027. The company noted that demand from hyperscalers, enterprises, and AI developers continues to outpace its existing and planned capacity. IREN's stock price rose approximately 15.7% on Monday. The CoinShares Bitcoin Mining ETF (WGMI) increased by 9.61%, with IREN being the fourth largest holding in the sector-tracking ETF, accounting for 10.05% of assets. Recent client agreements also include prepayments covering approximately 45% of related GPU capital expenditures.
Hut 8 and IREN Announce New Billion-Level AI Infrastructure Contract, Both Stock Prices Surge Over 16%
According to The Block, Bitcoin mining companies Hut 8 (HUT) and IREN sequentially announced major AI infrastructure deals, with share prices both rising over 16% on the day. Hut 8 signed a second 15-year, $9.8 billion lease at the Beacon Point campus in Nueces County, Texas, fully commercializing the 1GW site. This contract doubles the signed capacity for existing tenants to 704MW, raising the total value of campus contracts to $19.6 billion. Adding River Bend's 245MW, Hut 8's total signed IT capacity for its AI data center portfolio reaches 949MW, with a total contract base term value of $26.6 billion and expected average annual net operating income exceeding $1.75 billion. If three renewal options are exercised, Beacon Point's potential contract value could reach up to $50.2 billion. After signing a new $2.8 billion multi-year cloud computing contract, IREN raised its end-of-2026 AI cloud annualized revenue target from $3.7 billion to over $4 billion, with currently about 85% of the target secured within contracts. Clients include top institutions such as Microsoft, NVIDIA, Perplexity, and Figure AI, with customer prepayments in the new contract covering approximately 45% of the related GPU capital expenditures. As of June 30, IREN held approximately $7.6 billion
MoneyGram, Figure Markets, and Range to Join Stellar Network as Primary Validator Nodes
payment company MoneyGram, Figure's digital asset division Figure Markets, and stablecoin infrastructure provider Range will join the Stellar network as primary validator nodes. According to the official statement, each validator node can choose which other nodes to trust in order to reach consensus on the state of the ledger. Validators maintain publicly transparent identities and uphold the highest standards of uptime to ensure the security and liveness of the entire network.
The Securities Transfer Association Lobbies SEC: Third-Party Stock Tokens Could Threaten Market Integrity
As the tokenization of capital markets intensifies, the Securities Transfer Association (STA) recently submitted a comment letter to the U.S. Securities and Exchange Commission (SEC), warning that stock tokens issued by third-party entities could undermine market integrity. The association is calling on regulators to prioritize tokenized securities authorized by listed companies in future rulemaking.The STA represents numerous Wall Street transfer agents, whose members argue that genuine tokenized stocks should be formally authorized by the issuing company and recorded on the official shareholder register, rather than consisting of "wrapped" token products created by independent platforms.The association points out that third-party stock tokens could confuse investors regarding their actual holdings and expose them to platform credit, custody, and operational risks, without establishing a direct legal relationship with the listed company. Therefore, any innovation exemptions, pilot programs, or permanent regulatory frameworks for tokenized securities should be prioritized for the issuer-supported model. The STA also urges the SEC to reform the existing Direct Registration System (DRS), arguing that the current U.S. securities depository system struggles to meet the real-time transfer and settlement demands of on-chain securities. It recommends that regulators collaborate with the Depository Trust & Clearing Corporation (DTCC) to optimize the digital securities infrastructure.Currently, the global tokenized stock market, valued at approximately $2 billion, is predominantly led by the third-party model, including products launched by Ondo Finance and Kraken, while institutions like Securitize and Figure adopt the issuer-authorized model. (CoinDesk)
Serenity: Institutions Begin to Revalue Humanoid Robot Businesses, Chinese Manufacturers' Overall Production Capacity Expected to Reach 100,000 Units by Year-End
"White-Haired Stock Guru" Serenity posted on X platform, pointing out that IBK Research released a report last month on the Boston Dynamics supply chain. The report indicates that Boston Dynamics plans to achieve an annual production capacity of 30,000 units only by 2028, while Chinese robot manufacturers are expected to reach a total production capacity of 100,000 units by the end of 2026. This may lead institutions to begin revaluing the humanoid robot sector.In terms of the competitive landscape, the U.S. camp includes Tesla, Figure, Apptronik, and Agility Robotics, while Boston Dynamics is controlled by South Korea's Hyundai Motor Group. Major Chinese players include Unitree Robotics, Fourier Intelligence, AGIBOT, UBTECH Robotics, and XPeng Robotics. European companies include Neura, Pal Robotics, Wandercraft, and Oversonic.Additionally, IBK Research estimates that Atlas shipments will reach 11,290 units by 2028, and will increase to 20,000, 30,000, 40,000, and 50,000 units respectively between 2029 and 2032. However, Serenity questioned this linear growth model, arguing that the actual volume ramp-up curve is more likely to follow an S-curve. Serenity predicts that shipments could reach 15,000 to 20,000 units by 2028, increase to 40,000 to 70,000 units by 2029, and further rise to 90,000 to 140,000 units by 2030.
Figure Plans to Raise $600M to Acquire AI Real Estate Lending Platform Kiavi
Figure Technology Solutions, a Nasdaq-listed blockchain financial platform, announced plans to issue senior secured notes to qualified institutional investors to raise $600 million, subject to market conditions. The proceeds from this financing will be primarily used for the cash consideration to acquire Kiavi, as well as for general corporate purposes and related issuance expenses. (Globenewswire)