The blockchain lender and cryptocurrency exchange post double-digit gains in the busiest week for new listings since 2021.
Digital asset firms capitalize on regulatory tailwinds and an institutional adoption surge.
Two
cryptocurrency-focused companies, Figure Technology and Gemini Space Station, delivered
impressive market debuts last week, highlighting how digital asset firms are
driving a sharp rebound in the U.S. initial public offering (IPO) market after
months of sluggish activity.
Crypto Companies Lead IPO
Revival as Figure and Gemini Debut Strong
Figure
Technology (NASDAQ: FIGR)
closed its first trading day Thursday with shares up 44% from its $25 offering
price, giving the blockchain-based home equity lender a market value of $7.6
billion. The New York company opened at $36 per share after raising $787.5
million in an upsized offering that priced above expectations.
At a key
moment, the stock price rose as high as $38 before closing the day at $31.11.
On Friday, the session ended with a gain at $32.50.
A day
later, Gemini Space Station (NYSE: GEMI) shares jumped 32%
in their Nasdaq debut, valuing the cryptocurrency exchange at $4.4 billion. The
company founded by billionaire twins Cameron and Tyler Winklevoss opened at
$37.01, well above its $28 IPO price, after raising $425 million.
The strong
performances cap the busiest week for U.S. IPOs since July 2021, as companies
rush to capitalize on record-high equity markets and fading concerns about
trade policy volatility that had stalled new issues earlier this year.
Both
companies benefited from improved regulatory conditions for digital assets
under the Trump administration, which has taken a more favorable stance toward
cryptocurrency businesses compared to previous oversight approaches.
"Gemini
has chosen the perfect time to capitalize on the favorable environment,
following the recent success of the Bullish IPO and regulatory shifts from a
pro-crypto administration," said Jacob Zuller, analyst at Third Bridge,
quoted by Reuters.
Mike Cagney, the Co-Founder of Figure
Figure Co-Founder
Mike Cagney, who previously built fintech lender SoFi Technologies, positioned
his company differently from pure cryptocurrency plays that have struggled as
digital asset mania cooled. "Blockchain never loses an opportunity to
shoot itself in the foot," Cagney told Reuters, emphasizing that treasury
strategies don't represent the technology's full potential.
Figure Focuses on Home
Lending Infrastructure
Figure
developed its own Provenance blockchain to handle home equity loan origination,
verification and processing. The company facilitated $6 billion in home equity
lending over the 12 months ending June 30, up
29% from the previous year.
Cagney said
10 of the top 20 mortgage companies now use Figure's technology for loan
origination. "There are 20 or more large banks already using
Provenance," added David Chao, general partner at early investor DCM
Ventures.
The
approach has helped Figure avoid the sharp stock price drops that hit companies
focused primarily on holding digital assets as investment vehicles.
Winklevoss Twins Stage
Comeback
Gemini's
successful debut represents a notable turnaround for the Winklevoss brothers,
whose company had faced regulatory
scrutiny from the SEC and CFTC in recent years. The twins now hold roughly
75 million shares worth approximately $2.78 billion based on the IPO price.
The
exchange reported a net loss
of $282.5 million in the first half of 2025, significantly higher than the
$41.4 million loss in the same period last year. However, analysts expect
trading volumes to increase as institutional adoption accelerates.
"We're
really excited to go into this next phase, improve transparency even further,
to the marketplace and to our partners," said Dan Chen, Gemini's chief
financial officer.
Two
cryptocurrency-focused companies, Figure Technology and Gemini Space Station, delivered
impressive market debuts last week, highlighting how digital asset firms are
driving a sharp rebound in the U.S. initial public offering (IPO) market after
months of sluggish activity.
Crypto Companies Lead IPO
Revival as Figure and Gemini Debut Strong
Figure
Technology (NASDAQ: FIGR)
closed its first trading day Thursday with shares up 44% from its $25 offering
price, giving the blockchain-based home equity lender a market value of $7.6
billion. The New York company opened at $36 per share after raising $787.5
million in an upsized offering that priced above expectations.
At a key
moment, the stock price rose as high as $38 before closing the day at $31.11.
On Friday, the session ended with a gain at $32.50.
A day
later, Gemini Space Station (NYSE: GEMI) shares jumped 32%
in their Nasdaq debut, valuing the cryptocurrency exchange at $4.4 billion. The
company founded by billionaire twins Cameron and Tyler Winklevoss opened at
$37.01, well above its $28 IPO price, after raising $425 million.
The strong
performances cap the busiest week for U.S. IPOs since July 2021, as companies
rush to capitalize on record-high equity markets and fading concerns about
trade policy volatility that had stalled new issues earlier this year.
Both
companies benefited from improved regulatory conditions for digital assets
under the Trump administration, which has taken a more favorable stance toward
cryptocurrency businesses compared to previous oversight approaches.
"Gemini
has chosen the perfect time to capitalize on the favorable environment,
following the recent success of the Bullish IPO and regulatory shifts from a
pro-crypto administration," said Jacob Zuller, analyst at Third Bridge,
quoted by Reuters.
Mike Cagney, the Co-Founder of Figure
Figure Co-Founder
Mike Cagney, who previously built fintech lender SoFi Technologies, positioned
his company differently from pure cryptocurrency plays that have struggled as
digital asset mania cooled. "Blockchain never loses an opportunity to
shoot itself in the foot," Cagney told Reuters, emphasizing that treasury
strategies don't represent the technology's full potential.
Figure Focuses on Home
Lending Infrastructure
Figure
developed its own Provenance blockchain to handle home equity loan origination,
verification and processing. The company facilitated $6 billion in home equity
lending over the 12 months ending June 30, up
29% from the previous year.
Cagney said
10 of the top 20 mortgage companies now use Figure's technology for loan
origination. "There are 20 or more large banks already using
Provenance," added David Chao, general partner at early investor DCM
Ventures.
The
approach has helped Figure avoid the sharp stock price drops that hit companies
focused primarily on holding digital assets as investment vehicles.
Winklevoss Twins Stage
Comeback
Gemini's
successful debut represents a notable turnaround for the Winklevoss brothers,
whose company had faced regulatory
scrutiny from the SEC and CFTC in recent years. The twins now hold roughly
75 million shares worth approximately $2.78 billion based on the IPO price.
The
exchange reported a net loss
of $282.5 million in the first half of 2025, significantly higher than the
$41.4 million loss in the same period last year. However, analysts expect
trading volumes to increase as institutional adoption accelerates.
"We're
really excited to go into this next phase, improve transparency even further,
to the marketplace and to our partners," said Dan Chen, Gemini's chief
financial officer.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
From Chat to Stock: xStocks Puts Tokenized U.S. Equities Inside TON Wallet on Telegram
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
