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.
Stan Druckenmiller, chairman and chief executive officer and founder of Duquesne Family Office LLC, during a Bloomberg Television interview in New York, US, on Wednesday, Oct. 16, 2024. Billionaire investor Stanley Druckenmiller is concerned that the Federal Reserve has boxed itself into a corner when it comes to future interest-rate cuts. Photographer: Michael Nagle/Bloomberg via Getty Images 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 million from 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:
Story Continues“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.
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