Legendary hedge fund manager buys $76M of sinking crypto stock

Core Insights - Figure, a blockchain-based consumer lending platform, has gained attention following billionaire investor Stanley Druckenmiller's significant investment in the company [1][2][3] Company Overview - Figure operates a marketplace for tokenized consumer loan origination, utilizing blockchain technology to enhance the efficiency of loan packaging, verification, and settlement compared to traditional lenders [1] - The company went public in September 2025, positioning itself as the first large-scale consumer lending platform built on blockchain infrastructure [2][4] Investment Highlights - Stanley Druckenmiller's Duquesne Family Office acquired a stake worth $76.9 million in Figure, marking one of the largest early institutional investments in a blockchain-native consumer lending company [2][3] - Figure's IPO raised $663 million through the issuance of 23.5 million Class A shares and an additional 8 million shares sold by existing holders [7] Financial Performance - In its first quarterly results as a public company, Figure reported: - Revenue of $156.4 million, representing a 55% year-over-year increase, surpassing Wall Street's estimate of $119.5 million [8] - Adjusted EBITDA of $86.4 million, yielding a 55.4% margin [8] - Net income growth of 227% year-over-year [8] - A significant increase in exchange revenue, with ecosystem and technology fees rising nearly fivefold to $35.7 million [8] - A 70% growth in consumer loan marketplace volume, reaching $2.47 billion in Q3 [8]