Figma's IPO highlights a growing trend of companies integrating cryptocurrency, with its stock closing at $115 after a 250% jump on debut.
Figma's stock soared 250% on its first day of trading, closing at $115 after pricing its IPO at $33. The company, which holds $70 million in Bitcoin ETFs, reached an enterprise value of $66 billion, surpassing the acquisition price in Adobe's failed takeover attempt. Cathie Wood's ARK Invest purchased 60,000 shares on debut. Figma's strategy includes maintaining $30 million in USDC stablecoins for future Bitcoin purchases, reflecting a trend of companies incorporating crypto assets into treasury strategies.