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Blockchain Lender Figure Hits Nasdaq at $5.3 Billion Valuation

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In brief

  • Figure Technologies and its investors raised $787.5 million through its IPO.
  • It is among several crypto firms that have debuted on Wall Street this year.
  • The market cap of Figure’s tokenized HELOC loans is $12.5 billion.

Blockchain lender Figure Technologies was set to begin trading on the Nasdaq on Thursday under the ticker symbol “FIGR” after raising $787.5 million through an initial public offering alongside existing investors, according to a press release.

The New York-based firm, which uses a blockchain-based platform to facilitate lending outside its traditional scope, sold 31.5 million shares at $25 apiece. The firm and its investors previously targeted a range of $20 to $22 per share for its IPO across 26 million shares. With 211 million in shares outstanding, the deal valued Figure at $5.29 billion.

The upsized IPO represented Wall Street’s latest reading on the crypto industry’s pulse, following the debut of crypto exchange Bullish and stablecoin issuer Circle earlier this year. Winklevoss-founded crypto exchange Gemini is set for its IPO on Friday.



Figure said it’s not receiving any proceeds from shares sold by existing investors. That means Figure itself raised $587 million through the IPO. The IPO’s lead underwriters included Goldman Sachs and BofA Securities.

Figure describes its ecosystem as “the largest non-bank provider of home equity financing,” having originated $16 billion worth of home loans since inception alongside its partners since its inception in 2018. Figure also facilitates crypto-backed loans.

Homeowners typically tap a home equity line of credit (HELOC) to make home improvements or consolidate debt. In practice, securing a HELOC can be time-consuming, but using a blockchain, Figure says applicants can receive approval in minutes and funding within days.

Using its Provenance blockchain, Figure is engaged in the tokenization of private credit, and it had $11.7 billion in outstanding loans that are represented on-chain, as of Thursday, per data from RWA.xyz. The value of loans originated by Tradable and Maple Finance, its biggest competitors, meanwhile totaled $2.1 billion and $1.2 billion, respectively.

Figure’s HELOC loans are represented by tokens, which rank among the largest cryptocurrencies by market capitalization, according to crypto data provider CoinGecko. At $12.5 billion, they currently have a greater market cap than Avalanche’s native token.

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Polymarket Set For $10 Billion Valuation As US Relaunch Nears – Report

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According to the latest reports, crypto-based prediction platform Polymarket is preparing for a new funding round that could see its valuation rise to $10 billion. This move to raise additional capital comes as the company prepares to relaunch in the United States.

On September 3, Polymarket CEO Shayne Coplan revealed on the social media platform X that the prediction site has received the green light from the Commodity Futures Trading Commission (CFTC) to launch in the United States.

Polymarket, which became increasingly popular during the 2024 US presidential election, has been subject to regulatory scrutiny for the majority of this year. However, this approval decision from the CFTC marks the conclusion of investigations into the prediction platform’s activities.

Prediction Platform To At Least Triple Its $1 Billion Valuation

According to a September 12 report by Business Insider, Polymarket is readying for another funding round that could triple its June valuation of $1 billion. Citing unnamed sources, the report stated that at least one investor has offered a term sheet to raise Polymarket’s valuation to as high as $10 billion. 

The crypto-based prediction marketplace reached “Unicorn” status and a $1 billion valuation in June after completing a $200 million funding round. Multiple reports revealed that the company’s last capital raise was led by Peter Thiel’s Founders Fund—famous for its early backing of startups like OpenAI, Paxos, and Palantir.

A separate report revealed that Polymarket has considered an offer that would see its company grow to as high as $9 billion. This report also claimed that the company’s major competitor, Kalshi, is closing in on a $5 billion valuation in a new funding round.

While activity on Polymarket seems to hover around $1 billion after a $2.5 billion peak in November 2024, there are high hopes for the prediction market site upon its return to the US. However, the company still faces some restrictions in other countries, including Singapore, France, Thailand, and so on.

Polymarket And Chainlink Build New Partnership

In a press release on Friday, Chainlink disclosed its partnership with Polymarket to integrate its oracle network into the prediction platform’s resolution process. The blockchain network claims that this collaboration will improve the accuracy and speed of Polymarket’s market resolutions.

Sergey Nazarov, Chainlink co-founder, said: 

Polymarket’s decision to integrate Chainlink’s proven oracle infrastructure is a pivotal milestone that greatly enhances how prediction markets are created and settled. When market outcomes are resolved by high-quality data and tamper-proof computation from oracle networks, prediction markets evolve into reliable, real-time signals the world can trust.

Chainlink joins Polymarket’s growing list of strategic partnerships, coming after the prediction platform’s collaboration with Elon Musk’s X to launch an integrated product that offers data-driven insights and recommendations to users.

The price of LINK token on the daily timeframe | Source: LINKUSDT chart on TradingView

Featured image from The Information, chart from TradingView

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Gemini Jumps on Nasdaq Debut, Hitting $4.4 Billion Valuation

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In brief

  • Gemini started trading on the Nasdaq at an approximately $4.4 billion valuation.
  • The firm’s share price opened at $37.01, rising from the $28 offering price.
  • Crypto lender Figure also registered a post-IPO pop on Thursday.

Gemini debuted on the Nasdaq at a roughly $4.4 billion valuation on Friday, as the crypto exchange’s shares immediately jumped above their initial offering price.

The Winklevoss twins-founded firm’s stock opened at $37.01 apiece, a 32% increase compared to its upped IPO price of $28, according to Yahoo Finance. That initially gave Gemini a $3.32 billion valuation. The company previously targeted a range of $24 to $26 per share.

Trading under the ticker symbol “GEMI,” Gemini was established in 2014, and it raised $425 million through its IPO, according to Decrypt calculations based on regulatory filings. Reuters reported that the firm’s IPO was significantly oversubscribed.

Wall Street giants Goldman Sachs and Cantor Fitzgerald, the financial services firm formerly run by U.S. Commerce Secretary Howard Lutnick, were among the deal’s lead bookrunners.



Gemini initially targeted a range of $17 to $19 per share across 16.6 million shares. It requested that 10% of the offering be reserved for a “directed share program,” so that some shares could be offered to select parties exclusively.

In a video posted to X by Gemini, co-founder and President Cameron Winklevoss said that he and his brother, co-founder and CEO Tyler Winklevoss, were “completely blown away” by Bitcoin when they discovered it in the summer of 2012. They ultimately created Gemini as a way to help make cryptocurrency more mainstream, Cameron added.

The Winklevoss twins backed President Donald Trump’s bid for reelection. And Brian Quintenz, the president’s long-stalled pick to lead the SEC, accused them of trying to derail his nomination earlier this week, posting what he said were screenshots of contentious conversations to X.

When it comes to Wall Street’s interest in crypto, Gemini was a near-twin this week.

On Thursday, Figure Technologies also saw its stock jump amid its Nasdaq debut, with shares closing 24% above the crypto lender’s IPO price at $31.11. Analysts think the showing could advance tokenization narratives amid the busiest IPO week in the U.S. since 2021.

Figure shares were changing hands 8.6% higher on Friday at $33.78.

Gemini marks the 10th major crypto firm to tap public markets in the U.S. for funding this year, and Carlos Guzman, a research analyst at crypto market maker GSR, thinks the trend crystalized after stablecoin issuer Circle’s blockbuster IPO in June.

The firm saw its stock price increase nearly 10x in the following weeks, but at the time, it was reasonable to question whether that was because of investors’ interest in stablecoins or their appetite for crypto-native firms more broadly, he told Decrypt.

“When Circle went public and did really well, people said, ‘Oh, stablecoins are just really exciting right now,’” he said. “Since then we’ve seen Bullish and Figure do well, and now Gemini. It’s clearly a broader [trend] that markets are finding really exciting.”

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Polymarket News: Valuation Soars Through Summer

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Polymarket, the online betting exchange where users wager on real-world outcomes, has weighed a deal that would value the company at $9 billion, according to The Information.

The number marks a sharp climb from its $1 billion valuation just three months ago, when it raised funds in a round led by Peter Thiel’s Founders Fund.

The rise comes as regulators loosen restrictions. In 2021, the Commodity Futures Trading Commission barred Polymarket from offering prediction contracts in the U.S. But earlier this year the agency gave the platform the green light to operate domestically, opening the door for new growth.

Polymarket allows users to place bets on political elections, court rulings and geopolitical events. During the last U.S. election cycle alone, the site processed more than $8 billion in wagers. That puts it ahead of sports betting giants FanDuel, DraftKings and Betfair in terms of online traffic.

Competitor Kalshi has also seen its valuation rise. The company, which offers similar real-money event contracts, is now valued at $5 billion, up from $2 billion earlier this year, according to the same report. The jump suggests investors are betting that regulated prediction markets could become mainstream.

Polymarket has also attracted politically connected backers. Donald Trump Jr.’s venture capital firm, 1789 Capital, invested in the company in a deal worth tens of millions of dollars, with Trump Jr. joining as an advisor.

Prediction markets like Polymarket remain controversial in Washington, where critics argue they risk fueling misinformation. Supporters, however, say they provide a transparent gauge of public expectations on political and global events.



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Gemini Valuation Could Top $3 Billion as Crypto Exchange Raises IPO Share Price

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In brief

  • Gemini is upsizing its IPO target, anticipating selling shares between $24-26.
  • The firm initially expected to offer more than 16 million shares between $17-19.
  • It will trade under the ticker GEMI when it hits the market, expected on Friday.

American crypto exchange Gemini increased its expected initial public offering (IPO) share price to a range of $24-26, potentially bringing the firm’s valuation north of $3 billion when it hits the market. 

In an SEC filing dated September 9, the firm said it will offer 16,666,667 common shares of GEMI at the updated price range. Initially it anticipated offering the same amount of shares priced between $17-19. 

“Financial markets are moving on-chain and digital assets are profoundly changing the way we transact and store value,” wrote the firm’s founders Tyler and Cameron Winklevoss in a letter attached to the filing. “This is the crypto frontier and we are building a super app for it. We believe Gemini is uniquely positioned to contribute to this future and ensure that you are a part of it.” 



The exact date of the IPO is still outstanding, but the firm indicated it will be “as soon as practicable” relative to the effective filing date. 

Gemini first made its intentions known earlier this summer, filing to go public in June, following the success of stablecoin issuer Circle’s massive IPO. 

Circle similarly upsized its IPO offering amid increasing demand, jumping from $24 to $31 by the time it occurred. After hitting the market, shares were halted multiple times after the price of CRCL more than tripled on the opening day of trading.

Gemini’s IPO is being underwritten by Goldman Sachs, Cantor, and Morgan Stanley, among others, with GEMI set to trade on the Nasdaq. Shares are expected to begin trading Friday.

The firm requested that 10% of the IPO shares, or around 1.67 million shares of GEMI, be reserved for sale through “a directed share program to certain individuals and entities.” 

Additionally, Gemini said in the filing that it entered into a separate agreement with Nasdaq Inc. to sell $50 million worth of shares at the IPO price, less underwriting discounts and commission.

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Mike Cagney’s Figure Technologies Seeks $4.13B Valuation in Nasdaq IPO

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Figure Technologies, the blockchain lender founded by SoFi co-founder Mike Cagney, is aiming for a valuation of up to $4.13 billion in its upcoming initial public offering, according to new filings with the U.S. Securities and Exchange Commission.

The company and its backers are seeking to raise as much as $526 million through the share sale, making Figure the latest crypto-linked firm to test equity markets as investor appetite for new listings returns.

Shares are set to trade on Nasdaq under the ticker FIGR, with Goldman Sachs, Jefferies, and BofA Securities leading the underwriting syndicate.

Figure has been a prominent player in the real-world asset (RWA) sector, originating more than $16 billion in home equity lines of credit using its Provenance blockchain rails.

Earlier this year it merged with Figure Markets, another Cagney venture that operates a blockchain marketplace and issues YDLS, a yield-bearing stablecoin structured as a tokenized money market fund.



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Winklevoss Twins’ Crypto Exchange Gemini Eyes $2.3 Billion Valuation in Public Offering

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In brief

  • Gemini plans to raise up to $317 million in its IPO at a valuation of roughly $2.3 billion, with shares expected to price between $17 and $19 and trade under the ticker GEMI.
  • The offering follows blockbuster crypto listings from Circle and Bullish, whose valuations soared after their debuts.
  • Co-founders Cameron and Tyler Winklevoss, close allies of President Trump, have used their political ties as Gemini positions itself as one of the most prominent U.S. crypto exchanges.

Gemini announced Tuesday that it intends to raise up to $317 million via its much anticipated public offering—a raise that would value the company at almost $2.3 billion.  

The crypto exchange, co-founded by Cameron and Tyler Winklevoss, will target an initial stock price between $17 and $19 a share, the company said. The IPO will consist of roughly 16.6 million shares of Class A stock. 

The company has yet to announce the exact date of its Wall Street debut under the ticker GEMI—but based on the details featured in today’s announcement, it is likely to be soon. 



Goldman Sachs, Citigroup, Morgan Stanley, and Cantor Fitzgerald will be lead underwriters on the offering. 

Gemini initially filed to go public with the SEC earlier this summer, following the smash success IPO of stablecoin issuer Circle.

Amid excitement about the crypto sector’s booming fortunes and favorable regulatory shifts spearheaded by the Trump administration, Circle’s stock price more than quadrupled its initial target within hours of debuting—and has largely kept steady since then.

Last month, crypto exchange Bullish fared similarly during its IPO, more than tripling its target stock price on the first day of trading, and surging its valuation to over $12 billion.

Gemini will look to capitalize on what appears to be a positive association with crypto firms on Wall Street. The company is not only one of America’s more prominent crypto exchanges—but also one with particularly close ties to President Donald Trump and the White House.

The Winklevoss twins were some of the only crypto executives to vocally back the president in the run-up to the 2024 election. Shortly after Trump retook office, his SEC filed to pause its yearslong lawsuit against Gemini over its crypto lending program.

Last month, the Winklevosses announced a $21 million pro-crypto PAC explicitly created to defeat Democrats in the upcoming 2026 midterm election. The brothers have also been prominently featured at crypto-related White House events this year, including March’s crypto summit and the signing of the stablecoin-focused GENIUS Act in July.

“These are two smart, handsome guys,” Trump remarked of the brothers, who were seated in the front row at the GENIUS Act signing ceremony this summer. “They got the look, they’ve got the genius, got plenty of cash, and it’s great that you’re on our side.”

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Revolut launches secondary stock sale at $75B valuation
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Revolut launches secondary stock sale at $75B valuation

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Revolut has begun a secondary share sale valuing the fintech at $75 billion, allowing employees to sell up to 20% of their holdings in one of Europe’s largest private tech transactions to date. 

Summary

  • Revolut has launched a $75B secondary sale, letting employees sell 20% of their shares.
  • The company nearly doubled revenue and profit in 2024, fueling strong investor demand.
  • Expansion into U.S. banking and crypto products strengthens its global growth path.

The deal, reported on Sept. 1 by Reuters, prices shares at $1,381 each and comes just a year after a $45 billion secondary sale led by Coatue, D1 Capital Partners, and Tiger Global.

The $75 billion figure underlines Revolut’s rapid ascent. The company reported $4 billion in revenue in 2024, almost twice as much as the previous year, and a $1 billion profit. With over 50 million users globally, it has developed a diverse business strategy that combines stock trading, payments, and a growing crypto arm.

Revolut’s valuation under scrutiny

The valuation leap also follows investor pressure for earlier sales at $60 billion and $65 billion this year, which the company rejected. Criticism has trailed Revolut’s expansion, with some investors warning that its private valuation exceeds comparable public fintechs.

Secondary markets like Forge still price Revolut shares below $1,000, yet the official tender sets a higher benchmark. For employees, the sale offers liquidity ahead of a potential 2026 IPO, expected to be in New York rather than London.

Revolut’s expansion and crypto push

The sale coincides with major growth moves. While continuing its global rollouts of services like Revolut X, a specialized cryptocurrency exchange app that was introduced earlier this year, Revolut is also working to obtain a U.S. bank charter, which would enable it to lend money across the country.

The company is testing a fiat-pegged stablecoin in Latin America and has developed advanced fraud-protection tools for cryptocurrency payments.

Together, these developments position Revolut as Europe’s most valuable private tech firm, outpacing rivals like Stripe in valuation momentum and cementing its role at the intersection of digital banking and crypto finance.



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Bitcoin Is Replacing Gold And Heading For A Million-Dollar Valuation, Tom Lee Declares

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In the early days of Bitcoin, the largest cryptocurrency was seen as a mere tech asset by early adopters and developers with no intrinsic value. However, BTC has since grown at an exponential rate over the years, slowly earning the reputation of Digital Gold in the crypto and financial landscape.

Gold Out, Bitcoin Taking Over

Bitcoin’s mainstream status is growing strong across the broader financial sector, with many well-known figures and companies doubling down on the crypto king. As Bitcoin takes over the finance system, Tom Lee, Veteran market strategist and Fundstrat Global Advisors CEO, reignited the bullish debate around BTC, its stark transformative potential, and role.

Trending Bitcoin on the social media platform X shared a short clip of a recent interview where Fundstrat’s CEO made the bold declaration about BTC. While underscoring BTC’s evolution from an ordinary tech asset to a mainstream asset, Lee has once again doubled down on his bold forecast that BTC may reach the million-dollar valuation in the years ahead.

In the interview, Lee gave his latest remarks on BTC, emphasizing that Bitcoin is not just a speculative asset but a viable replacement for Gold, the world’s largest asset. This audacious claim by Lee positions the crypto king as the ultimate store of value in the dynamic digital era.

Lee’s statement that BTC will replace Gold is backed by the conviction of market participants and the use cases of the asset, which have several use cases. With institutional adoption growing and investor confidence in conventional hedges declining, Bitcoin’s resilience and scarcity will solidify its role as the contemporary counterpart and ultimate replacement of gold.

Considering these developments, the CEO  has recalled his long-term bullish projections for Bitcoin, noting that it will hit the $1 million value over time. After sharing his price prediction, Lee also delved into the longstanding BTC 4-year cycle. 

According to the veteran strategist, the 4-year cycle could be drawing close to its end for BTC. This is because of how institutions are adopting the asset as the thesis is taking place. As a result, institutional investors and essentially permanent holders of BTC will start engaging with the crypto asset. 

Lee has declared this wave of strong investors a good thing for BTC. Thus far, the CEO expects the asset to significantly build on the $120,000, which would act as a launchpad to the $200,000 and $250,000 range before the end of this year.

Large Institutions Are Still Buying BTC

Despite facing heightened bearish pressure, large companies are showing robust confidence in Bitcoin, as they continue to purchase it in substantial portions. A recent BTC Buy from a Japanese-based firm, Metaplanet, demonstrates this persistent accumulation among big corporations.

In another strategic move, Metaplanet has acquired an additional 775 BTC, valued at $93 million at $120,006 per coin. According to the report shared by the firm’s president, Simon Gerovich, Metaplanet’s overall Bitcoin holdings now stand at 18,888 BTC, worth a staggering $1.9 billion. The data shows that the firm has achieved a yield of 480.2% year-to-date (YTD) in 2025.

BTC trading at $115,186 on the 1D chart | Source: BTCUSDT on Tradingview.com

Featured image from Pixabay, chart from Tradingview.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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