NEWS DIGEST – 11.09.2025 🚀
1) Figure raises $787.5M in IPO, hitting $5.29B valuation
🏦 Blockchain lender & stablecoin issuer Figure Technologies just went public on Nasdaq, selling 31.5M shares at $25 each (well above its earlier target). IPO raises $787.5M; valuation ~ $5.29B. Big underwriters: Goldman Sachs, Jefferies, BofA.
Why it matters: Signals strong institutional appetite for hybrid firms (lending + stablecoins), especially under favorable regulatory winds. Also a bellwether for other crypto IPOs.
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2) “Investors retreat”: Crypto-treasury firm shares tumble from summer peaks
📉 Shares of companies that have treated Bitcoin and crypto as treasury assets—firms like Strategy and Metaplanet—have dropped sharply. While many had skyrocketed in recent months, they’re now down to multi-month lows; the euphoria is fading.
Why it matters: Highlights risk in the “crypto treasury” playbook: when BTC dips, equity exposure hurt harder; volatility multiplies leverage. Investors are now more cautious.
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3) Quintenz vs Winklevoss: CFTC chair nomination dust-up
⚖️ Brian Quintenz, President Trump’s nominee for chair of the CFTC, alleges that Tyler Winklevoss lobbied the President to delay his nomination. The issue relates to a past lawsuit by CFTC against Gemini (co-founded by the Winklevoss twins), plus concerns over regulatory alignment. Gemini is preparing a Nasdaq IPO.
Why it matters: Political/regulatory entanglements continue to be front & center. Delay in confirmation means regulatory uncertainty remains—especially for exchanges like Gemini where leadership & oversight are key to trust and operations.
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4) Senate Democrats push crypto market structure framework
🛠️ Twelve Senate Democrats unveiled detailed priorities for crypto market regulation: focus on consumer protections, transparency, anti-illicit activity, and clearer issuance & trading rules for digital assets.
Why it matters: Adds counterbalance to lighter regulation advocates. If this framework influences upcoming legislation, we could see stricter rules around issuance, disclosure, and enforcement. Might also increase tension between state & federal policy silos.
