News

ChainCatcher reported that Figure Technology Solutions, a blockchain-native lending company led by SoFi co-founder Mike Cagney, announced the pricing of its initial public offering (IPO) on Wednesday evening: issuing 31,500,000 shares of Class A common stock. The company set the offering price at $25 per share—higher than the $20 to $22 per share range disclosed earlier that day in the S-1 filing submitted to the U.S. Securities and Exchange Commission (SEC). At the announced price, Figure plans to raise $787.5 million through the IPO (previously expected to be $693 million), with a company valuation of approximately $5.3 billion (previously $4.7 billion). Upon completion of the offering, a total of approximately 211.7 million shares of Class A and Class B common stock will be outstanding, excluding the underwriters’ over-allotment option. The offering includes 23,506,605 shares of Class A common stock issued by Figure and 7,993,395 shares of Class A common stock sold by certain existing shareholders. This represents an adjustment from the figures in the previous filing, which were 26,645,296 shares and 4,854,704 shares, respectively, indicating a change in the offering structure. Figure will not receive any proceeds from the shares sold by existing shareholders. .

BlockBeats News, September 11, according to Bloomberg, Zodia Custody, a digital asset custody company backed by Standard Chartered, has dissolved its joint venture "SBI Zodia Custody" with SBI Holdings Inc. in Japan after two years of operation, following a reassessment. Julian Sawyer, CEO of Zodia Custody, stated: "This is a strategic consensus reached between SBI and us, and it is a mutual decision. We each have other priorities, and they also have other key arrangements." Sawyer mentioned that SBI Zodia Custody, which was previously 51% owned by the Tokyo financial company and 49% by Zodia Custody, had been in discussions with the Japan Financial Services Agency regarding local registration, but there had been no progress; prior to the decision to terminate the business, the company had been "working and preparing for the application," but Zodia Custody's "global available resources are limited." Kosuke Kitamura, spokesperson for SBI Holdings, said: "This dissolution does not represent a retreat from our custody business or our Asia strategy. It is a proactive decision aimed at achieving group-wide synergies within our digital ecosystem at a faster pace."