Figure Heloc becomes 10th biggest crypto — but critics say it shouldn’t be there

Figure’s Home Equity Line of Credit token, or Figure Heloc, is getting big. The asset, which represents loans taken out through Figure against real estate, has grown to more than $15 billion in recent months, making it the 10th-largest crypto token listed on platforms like CoinGecko. Yet as its supply swells, critics argue it shouldn’t be compared to other crypto assets such as Cardano’s ADA and the $16 billion memecoin, Dogecoin. They argue that the token’s lack of onchain use and poor liquidity raise ...