Core Insights - Figure Technology Solutions experienced a strong market debut, with shares rising 24% to close at $31.11, resulting in a multibillion-dollar market capitalization and attracting institutional investors [1][4] - The company raised approximately $787 million through its IPO, indicating significant investor interest in its blockchain-based technologies for capital markets [4][6] Blockchain and Technology - Figure's blockchain-centered approach aims to enhance efficiencies in lending and asset settlement, moving away from traditional settlement processes [4][5] - The company operates a digital lien registry that allows for instant ownership changes, replacing lengthy paper processes with real-time verification [6] Product Expansion and Market Opportunity - Figure plans to utilize IPO proceeds to expand beyond its core home-equity and mortgage products, targeting a $185 billion revenue opportunity across various sectors [7] - The company has seen a 40% month-on-month growth in crypto-backed lending, with over 1,000 loans issued, amounting to nearly $100 million tied to bitcoin and ether collateral [8] Market Conditions and Regulatory Environment - Current macroeconomic conditions are favorable, with expectations of declining front-end rates as the Federal Reserve cuts rates, while long-term yields remain stable [9] - Regulatory clarity is essential for institutional adoption, with recent legislative measures seen as positive steps [10] Business Model and Future Vision - Figure aims to serve as a marketplace for third-party lenders and investors, automating underwriting processes and facilitating a three-stage flywheel model [11] - The company envisions democratizing access to prime brokerage through stablecoin lending directly to borrowers [12] Success Metrics and Near-Term Plans - Success will be measured by origination volume, take rate, and breadth of adoption, with a target of $2 billion a month in origination volume [13] - The company plans to maintain its core strengths while exploring new products and potential inorganic growth opportunities [13]

Group 1 - Figure Technology was valued at $7.62 billion after its shares jumped 44% in their Nasdaq debut on Thursday [1] - The strong first-day performance of Figure Technology adds to a trend of successful debuts by crypto-linked firms [1] - The digital-assets industry is moving closer to mainstream acceptance [1]

Cantor Fitzgerald's Commemoration and Philanthropy - Cantor Fitzgerald commemorates the 24th anniversary of the September 11th attacks with their annual charity day [1][3] - All revenue raised on the day will go to charity, turning tragedy into something beautiful [6] - The Cantor Relief Fund was started to take care of the 9/11 families, with a promise to give 25% of profits for the first five years and pay for families' healthcare, totaling $180 million over 15 years [7][8] - Cantor Fitzgerald offers standing job offers to children or anyone related to those lost in the towers on 9/11 [8] Business Growth and Strategy - Cantor Fitzgerald has significantly grown since 9/11, increasing from a couple hundred brokers to 2,000 across three companies (Newmark, BGC, and Cantor Fitzgerald), with about 14,000 employees in total [10] - The firm was the number one underwriter for US Global IPOs through August [12] - Cantor Fitzgerald has doubled its investment bank size over the last 18 months [13] - The company intends to remain a private investment bank, citing the ability to move fast, be mobile, and efficient with less bureaucracy [13][14][15] SPAC Market and Digital Assets - Cantor Fitzgerald has been a long-time believer in SPACs and sees tremendous value in them [18][19] - The company is very bullish on the Digital Asset Registry and believes the current administration is smart, thoughtful, and caring towards the industry [32] - Cantor Fitzgerald has a close relationship with Tether, the largest stablecoin in the world, and believes stablecoins should exist across the world [38][39] New York City and Future Risks - Cantor Fitzgerald has a buy and hold strategy on New York City, believing it is a strong and resilient city [46] - The company believes the current administration is smart and that things will get done [47] - The biggest risk seen is people moving too quickly or making rash decisions, emphasizing the importance of getting a second or third opinion [49][50]

RT BSCN (@BSCNews)CHAINLINK, UBS, AND DIGIFT PARTNER TO AUTOMATE TOKENIZED FUND OPERATIONS IN HONG KONG- @Chainlink, @UBS, and @DigiFTTech have teamed up to streamline tokenized fund operations on-chain under Hong Kong’s Cyberport Blockchain & Digital Asset Pilot Subsidy Scheme.- The collaboration aims to bring institutional-grade automation to the management of tokenized financial products.- UBS, a global wealth manager overseeing $5.9 trillion in assets, will use the system to manage tokenized products di ...

RT BSCN (@BSCNews)CHAINLINK, UBS, AND DIGIFT PARTNER TO AUTOMATE TOKENIZED FUND OPERATIONS IN HONG KONG- @Chainlink, @UBS, and @DigiFTTech have teamed up to streamline tokenized fund operations on-chain under Hong Kong’s Cyberport Blockchain & Digital Asset Pilot Subsidy Scheme.- The collaboration aims to bring institutional-grade automation to the management of tokenized financial products.- UBS, a global wealth manager overseeing $5.9 trillion in assets, will use the system to manage tokenized products di ...

CHAINLINK, UBS, AND DIGIFT PARTNER TO AUTOMATE TOKENIZED FUND OPERATIONS IN HONG KONG- @Chainlink, @UBS, and @DigiFTTech have teamed up to streamline tokenized fund operations on-chain under Hong Kong’s Cyberport Blockchain & Digital Asset Pilot Subsidy Scheme.- The collaboration aims to bring institutional-grade automation to the management of tokenized financial products.- UBS, a global wealth manager overseeing $5.9 trillion in assets, will use the system to manage tokenized products distributed through ...

Core Viewpoint - Gemini has raised its IPO price range to $24 to $26 per share, aiming for a valuation of approximately $3.2 billion and targeting to raise around $435 million [1][2]. Group 1: IPO Details - The initial public offering (IPO) price range has been increased from $17 to $19 to $24 to $26 per share [1]. - The total share count remains at 16.7 million, which means at the top end of the new price range, Gemini would raise roughly $435 million, an increase from the previous target of about $317 million [1][2]. Group 2: Institutional Support - Nasdaq has committed to invest $50 million in the IPO, indicating strong institutional backing for Gemini as it prepares to go public under the ticker GEMI [3]. - This partnership is viewed as a sign of confidence in Gemini's long-term prospects and reflects Wall Street's increasing acceptance of digital asset platforms [3]. Group 3: Market Context - The IPO is occurring amidst a surge of fintech listings and a renewed interest in digital asset companies [4]. - Investor enthusiasm for Gemini's IPO will depend on the company's ability to stabilize its finances while navigating a changing regulatory landscape [4]. Group 4: Regulatory Challenges - The IPO is set against a backdrop of regulatory controversy, particularly involving allegations against Tyler Winklevoss by CFTC nominee Brian Quintenz [5]. - Quintenz disclosed private messages showing Winklevoss's attempts to influence his confirmation regarding a long-standing dispute with the CFTC, which adds pressure on Gemini as it seeks to assure investors and regulators of its stability [6].

Crypto exchange Binance and asset manager Franklin Templeton are working together to launch as-yet-unrevealed digital asset products. https://t.co/dRKEH3LYv2 ...

SEC chief Atkins picks pro-crypto veteran director to lead corporate finance division Securities and Exchange Commission Chairman Paul Atkins appointed James Moloney on Wednesday to head the agency’s Division of Corporation Finance, placing a pro-crypto veteran at the helm of the influential unit that reviews IPO filings and corporate disclosures. Moloney, a partner at Gibson, Dunn & Crutcher, previously worked at the SEC from 1994 to 2000, where he specialized in mergers, acquisitions, and financial rep ...

Today, Bitcoin climbs following an encouraging inflation reading. NASDAQ plans to invest $50 million in a partnership with crypto exchange Gemini. And Sylvia Fredo, general counsel of Miston Labs, weighs in on regulatory advancements for crypto in the US.Welcome to CNBC's Crypto World. I'm Talia Kaplan. Major cryptocurrencies are in the green as of midday and the S&P 500 jumped to a new record after a reading on wholesale prices unexpectedly dropped.A welcome development for investors vying for a Fed rate c ...