Core Viewpoint - Figure, a blockchain lending platform, successfully went public on Nasdaq, closing its first day up 24.44% at $31.11, indicating strong market interest in crypto IPOs [1] Group 1: Company Overview - Figure's IPO raised $787.5 million, with a market valuation of approximately $6.6 billion, surpassing its previous valuation of $3.2 billion from a 2021 funding round [1] - The company was founded in 2018 by Mike Cagney and utilizes blockchain technology to streamline loan processes, including home equity loans [1][2] - Figure has issued over $16 billion in loans through blockchain channels [2] Group 2: Financial Performance - For the six months ending June 30, the company reported a net profit of $29.1 million and revenue of $190.6 million, compared to a net loss of $15.6 million and revenue of $156 million in the same period the previous year [2] Group 3: Market Context - This week is noted as one of the busiest for IPOs in the U.S. this year, with Gemini Space Station, a cryptocurrency exchange, also set to go public [1] - Figure's IPO attracted over 25 times the subscription volume, indicating strong investor interest [2]