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Stanley Druckenmiller Takes $77M Stake in Blockchain Lender Figure Technologies

Duquesne Capital’s Q3 filing shows a multibillion-yen investment in Figure Technologies, underscoring continued hedge fund interest in blockchain-based lending platforms.

Summary

Duquesne Capital, led by hedge fund manager Stanley Druckenmiller, disclosed the purchase of over 2.1 million shares in blockchain-focused lender Figure Technologies Solutions in its Nov. 15 Q3 13F filing. The stake, valued at approximately ¥12 billion (about $77 million), represents 1.9% of Duquesne Capital’s portfolio. Figure, founded by SoFi co-founder Mike Cagney, integrates AI and blockchain into its capital-light home equity lines of credit (HELOC) business. The investment follows Figure’s September Nasdaq IPO and strong performance, with shares climbing 44% despite weakness in other crypto-linked firms.

Terms & Concepts
  • Home Equity Lines of Credit (HELOC): A loan type allowing homeowners to borrow against the equity in their property, often with variable interest rates.
  • Provenance Blockchain: A blockchain platform developed by Figure Technologies to manage financial transactions and digital assets.
  • Stablecoin: A cryptocurrency pegged to a stable asset, such as the U.S. dollar, aiming to reduce volatility compared to traditional cryptocurrencies.