figure

HyperliquidNews posted on platform X that in the next network upgrade, HIP-3 deployers will be able to configure funding rate limits.

Figure co-founder and Executive Chairman Mike Cagney tweeted that DeFi is more suitable for asset-backed finance (ABF), which can avoid double pledging, directly improve collateral, self-custody or autonomous venues, and liquidity collateral. He believes that Figure has brought ABF on-chain, but overall it is still in the early stages, with approximately $60 trillion of the market yet to migrate on a large scale.He also listed five reasons why traditional finance has been slow to enter on-chain applications: poor interface experience, which has allowed applications like Robinhood and SoFi to win on the retail side; the long-term difficulty of achieving qualified custody and recoverable self-custody; hedge funds and others requiring multiple wallets, multiple users, tiered permissions, and complete audits to be exported to fund administration and accounting; regulation is being streamlined, and the precedent for on-chain native securities is becoming clearer, with hopes for the CLARITY Act and guidelines; and KYC issues are easier to resolve than the outside world thinks, as on-chain programmatic screening and wallet-level permissions can be implemented.

In August, the ADP employment number in the United States was 38,000, the smallest increase since January, lower than the market expectation of 48,000, and the previous value was 44,000.

Blockchain Capital Markets Figure (NASDAQ: FIGR) announced that it has completed the acquisition of the previously announced AI real estate loan platform Kiavi. Figure acquired Kiavi's technology and operating platform along with some other assets. Kiavi's brand, platform, and technology will be integrated into Figure's network of over 480 ecosystem partners and will expand the coverage of relevant loan technologies through its blockchain-native marketplace Figure Connect.Kiavi's CEO Arvind Mohan will join Figure as Chief Business Officer. Previously, Figure planned to acquire Kiavi for a total price of $717 million and intended to issue a total of $600 million in preferred notes through a private placement for the acquisition of Kiavi.

Figure Lending LLC, a cryptocurrency lending institution, offers cryptocurrency-backed loans where borrowers can use Bitcoin, Ethereum, or Solana as collateral to obtain cash up to 75% of the collateral's value while retaining ownership of the tokens. Borrowing typically does not constitute a sale and generally does not trigger a capital gains event.Figure Lending LLC states that borrowers should compare the maximum loan-to-value ratio, fixed or variable interest rates, regulatory licensing, and liquidation terms. The institution offers fixed rates with a loan term of 12 months, a maximum annual percentage rate of 12.62%, and supports same-day funding without requiring a credit score, with approval based on the collateral. Figure provides an optional liquidation protection feature available in some states, which can delay liquidation during the loan term due to price declines; however, liquidation may still occur if the loan is overdue. This feature does not apply to situations of non-payment, default, or violation of loan terms, and a decline in cryptocurrency asset prices may still trigger margin calls.

According to Hongxing News, Hu Xiaowei, a core figure of the Prince Group, left Japan on July 29 and was deported to the United States. The Federal Bureau of Investigation (FBI) has contacted him, and subsequent investigations will be conducted in the United States.The report states that Hu Xiaowei previously used a Cypriot passport in Japan and operated under the name "Hu Shi." In June of this year, he was arrested by Japanese police for allegedly violating Japan's Immigration Control and Refugee Recognition Act. On July 24, the Japanese prosecution filed a summary indictment against him and imposed a fine equivalent to approximately 100,000 yuan.Public information shows that Hu Xiaowei has also operated under names such as Hu Yanming and Hu Shi. The report indicates that relevant agencies believe these identities belong to the same person.

According to Sandmark, documents and recordings obtained show that Pump.fun laid off employees two months before the unlocking of employee tokens, causing at least one former employee to miss out on a PUMP token allocation valued in the seven figures at current prices.The layoffs occurred in early April, while the affected employees were supposed to start receiving token unlocks two months later (in June). Employees had signed a token agreement in June 2025, with a quarter of the allocation set to unlock a year later. Co-founder Noah Tweedale stated in an internal meeting recording that the reason for the layoffs was the company's "rapid expansion."Former employees reported a second round of layoffs in mid-July, with the company having laid off over 40 people in the past two months. One employee claimed they were laid off the day before the token unlock, but Sandmark could not independently verify these claims.Pump.fun operates in the UK under the name Baton Corporation Ltd, although it has blocked UK users since December 2024 (following a warning from the UK FCA that it may be providing financial services without a license) and is still on the regulatory warning list. In 2024, the company experienced an employee embezzlement incident involving the misappropriation of approximately $2 million, with the involved party sentenced to six years in prison. According to Companies House data, the company's latest annual report is overdue.

According to tracking data from the Web3 asset data platform RootData, in the past 7 days, the crypto media platform BSC News has been the project that X (Twitter) top figures have unfollowed the most. The new influential figures on X who have unfollowed this project include well-known cryptocurrency trader Ansem (@blknoiz06) and cryptocurrency trader Ash Crypto (@AshCrypto). In addition, the project that X top figures have unfollowed the most also includes Ostium.

According to Cointelegraph, data from RWA.xyz shows that in the past month, the transfer volume of tokenized stocks increased by 105% to $8.41 billion, and the distributed value grew by 43% to $2.16 billion, with the number of holders increasing by 17% to over 409,000.The growth was mainly driven by leading platforms. Among them, Figure's distributed asset value increased by 935% in the past 30 days, Securitize grew by 332%, and xStocks increased by about 62%. In terms of distributed value, Ondo ranked first with approximately $846 million, followed by Stocks, Securitize, and Figure at approximately $708 million, $306 million, and $239 million, respectively.The report stated that tokenized stocks outperformed other RWA sub-segments. During the same period, the distributed asset value of tokenized U.S. Treasuries, the largest asset class, remained flat, while the overall tokenized RWA market grew by only about 4% to $33.5 billion. Over the past year, the tokenized stock market has increased from approximately $37.8 million to $2.16 billion, a growth of about 471%.

Figure released preliminary operating data for June and the second quarter, both exceeding the previous performance guidance upper limit. The data shows that Figure's market transaction volume for the second quarter was $4.26 billion, a year-on-year increase of 132%; among which, the transaction volume for June alone was $1.52 billion, a month-on-month increase of 8% and a year-on-year increase of 155%.Figure also announced a transformation to adopt an almost real-time operational transparency reporting model and launched a dashboard that is updated weekly to provide more direct visibility into market size.

According to Globenewswire, the Nasdaq-listed blockchain financial platform Figure Technology Solutions announced that it will raise $600 million through the issuance of senior secured notes, with the specific issuance depending on market conditions. The proceeds from this financing will primarily be used for the cash consideration to acquire Kiavi, as well as for general corporate purposes and related issuance costs.The note issuance by Figure will be jointly guaranteed by some subsidiaries and will be privately placed to qualified institutional investors, without public registration, and there remains uncertainty regarding the final completion.In addition, Figure will acquire the AI real estate lending platform Kiavi for $717 million, and Figure expects Kiavi to add over $7 billion in transaction volume annually. After the transaction is completed, Kiavi's CEO Arvind Mohan will join Figure as Chief Business Officer.

According to Jinshi, the ADP employment number for the U.S. in June is 98,000, with an expectation of 118,000.

Figure Technology Solutions announced that it will acquire the AI real estate loan platform Kiavi for a total price of $717 million; at the same time, Figure's joint venture with Sixth Street will acquire the loan assets on Kiavi's balance sheet.Figure stated that Kiavi is a leading platform in the U.S. residential transition loan (RTL) sector, and this transaction is expected to add over $7 billion in first mortgage scale annually to the Figure Connect market, bringing over $100 million in asset flow monthly to its on-chain storage market, Democratized Prime.

In response to Radha Stirling's claims about multiple Dubai crypto figures being abused in UAE detention centers, on-chain investigator ZachXBT stated that the individuals referred to as "crypto entrepreneurs" are actually threat actors suspected of involvement in high-impact social engineering crypto scams and data extortion. Law enforcement has seized $18.9 million in stolen funds.

According to Businesswire, financial technology infrastructure company Cross River Bank announced a $250 million forward financing to Figure to support Figure's cryptocurrency collateralized loan business.Cross River will provide ongoing capital support for Figure's crypto loans, helping borrowers obtain dollar liquidity without selling their cryptocurrency assets.

According to Jinshi, the ADP employment number in the U.S. for May is 122,000, expected to be 117,000, and the previous value was 109,000.

The prediction market platform Polymarket has disclosed that it has completed its first institutional-level on-chain block trade, a six-figure dollar transaction executed by digital asset broker FalconX and AI risk clearing infrastructure startup Anera Labs on the Polygon blockchain. The transaction involved contracts related to the Ornn Compute Price Index, which is used to track the rental prices of NVIDIA H100 GPU chips.Polymarket stated that this is the first on-chain block trade involving institutional participation in the prediction market space. In the future, FalconX will also serve as the exclusive market maker for block trades on the Polymarket platform to support the liquidity needs and price discovery for institutional clients.

Bernstein analysts stated last week that Figure Technology Solutions' first-quarter financial report shows the company is rapidly becoming a unique presence in the blockchain market platform. The performance released by Figure on May 11 significantly exceeded Wall Street expectations in both revenue and EBITDA, with its core business transforming real-world credit assets into blockchain-native tools that can be traded and financed on-chain.Analysts believe Figure is building a blockchain-native capital market ecosystem, fundamentally differentiating itself from traditional balance sheet-based fintech lending platforms, and expect its stock FIGR to become a real-time reflection of blockchain loan volumes. Bernstein pointed out in a research report on May 15 that on-chain real-time data indicates Figure is about to welcome a record-breaking second quarter.Co-founder Mike Cagney introduced that the company's Forge platform can convert entire loans into small single-dollar liquidity participation units, addressing the liquidity challenges of RWA in DeFi. Bernstein previously estimated that the potential market size for annual credit issuance that could migrate on-chain could reach $4 trillion, while the current tokenized credit market is approximately $5.14 billion.

Bernstein reiterated its "Outperform" rating on Figure Technology Solutions (FIGR) and maintained a target price of $67, implying about a 72% upside from the current stock price of $38.97. Figure's Q1 2026 performance was strong: loan issuance reached $2.9 billion, a year-on-year increase of 113%; adjusted revenue was $167 million, a year-on-year increase of 92%, exceeding market expectations by 6%; adjusted EBITDA was $82.7 million, with a profit margin of about 50%, slightly above market expectations. However, the GAAP diluted EPS was $0.18, about 9% below expectations, primarily impacted by $26 million in equity incentive expenses.Bernstein's analysis suggests that this performance should reshape the market's perception of Figure, as it is not a traditional credit company, but rather a "tokenization-driven capital market platform," with core profits coming from network fees and operational leverage, and it maintains a pricing model based on a 25x EBITDA valuation for 2027. Additionally, the tokenization ecosystem continues to expand: the yield-bearing security token YLDS reached $598 million (up 80% quarter-on-quarter); the balance of stock lending products was $368 million (up 79%); and the small business loan segment contributed $6 million in revenue. Figure's current stock price is still not far from the 2025 IPO issue price of $36, but there remains a significant gap from the historical high of $78.