Figure, the blockchain-based consumer lending platform is back in the spotlight after billionaire investor Stanley Druckenmiller disclosed a major new position in the company.
For the uninitated, Figure operates a marketplace for tokenized consumer loan origination , using blockchain rails to package, verify and settle loans far more efficiently than traditional lenders.
The firm went public in September and has pitched itself as the first large-scale consumer lending platform built natively on blockchain infrastructure.
Related: Cathie Wood sells $100M of surging tech stocks to buy shocking stock
Druckenmiller buys $76.9M stake
A recent 13F filing with the U.S. Securities and Exchange Commission shows that Druckenmiller's Duquesne Family Office purchased $76,989,000 worth of Figure (FIGR).
While Druckenmiller did not comment publicly on the position, his investment marks one of the largest early institutional bets on a blockchain-native consumer lending company.
Figure went public in September 2025 at $25 per share, closing its debut day up 24% at $31.11 and reaching a $6.6 billion market cap.
Stanley Druckenmiller is one of Wall Street's most legendary hedge fund managers, best known for running Duquesne Capital with three decades of uninterrupted profits . He famously partnered with George Soros at the Quantum Fund, where he helped execute the historic 1992 " Black Wednesday " trade that broke the Bank of England.
Today, Druckenmiller manages his family office and is widely regarded as one of the greatest macro investors of all time, with a long record of high-conviction bets across equities, currencies and emerging technologies.
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Figure posts strong quarter after IPO
The company also released its first quarterly results last week, its first as a public company following a September IPO that raised $663 millionfrom 23.5 million newly issued Class A shares and an additional 8 million shares sold by existing holders.
In its Q3 2025 earnings, Figure delivered:
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$156.4 million revenue, up 55% year-over-year, crushing Wall Street's $119.5M estimate
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Adjusted EBITDA of $86.4 million, a 55.4% margin
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227% year-over-year Net Income growth, per its earlier earnings commentary
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A surge in exchange revenue, with ecosystem and technology fees rising almost 5× to $35.7 million
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70% growth in consumer loan marketplace volume, reaching $2.47 billion in Q3
Figure CEO Michael Tannenbaum said Figure's marketplace model continues to scale:
"We recently completed our successful initial public offering and are pleased to report a strong first quarter as a public company."
He added that demand for tokenized loan products is accelerating:
"The continued success of Figure's marketplace approach to tokenized consumer loan origination drove significant growth in earnings, with Net Income increasing 227% year-over-year while also achieving an Adjusted EBITDA margin of 55%, underscoring the scalability of our blockchain-based model."
Figure stock sinks amid market crash
But despite strong fundamentals, Figure's stock fell 5.08% on Nov. 19 to $37.20 and is down roughly 3% over the past month, mirroring weakness across crypto and equities as Bitcoin plunged below $89,000, down sharply from its all-time high of $126,000.
The latest crypto market crash has been driven by a perfect storm of macro shocks:
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the missing October U.S. Jobs Report, which froze key economic data and rattled rate-cut expectations,
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the longest U.S. government shutdown in history, which stalled federal releases and spooked risk markets,
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a wave of forced liquidations, with more than $400 million wiped out in 24 hours as overleveraged traders were flushed out, and
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renewed hawkish signals from Federal Reserve officials, pushing traders to price in fewer rate cuts for 2025.
Related: Bitcoin, XRP crash as markets react to missing Jobs report
Analysts remain bullish despite the pullback
Analysts remain overwhelmingly positive. VanEck's Matthew Sigel previously projected FIGR could reach $40 within 12 months and possibly $60–$75 over two years, citing its first-mover advantage in tokenized credit markets.
Others like, Seeking Alpha analysts describe Figure as "a bona fide profitable blockchain business," highlighting that the company's >50% EBITDA margin is rare among both fintech and crypto-linked firms.
This story was originally reported by TheStreet on Nov 20, 2025, where it first appeared in the Investing section. Add TheStreet as a Preferred Source by clicking here.
