Abnormal movement in US stocks | Blockchain lending platform Figure (FIGR.US) rose nearly 14% on the second day of its listing, with a closing increase of over 24% on the first trading day.

According to the Securities Times, on Friday, the blockchain lending platform Figure (FIGR.US) rose nearly 14% on its second day of trading, with its first day closing up over 24% at $35.21. Figure uses blockchain technology to simplify the loan process, including home equity loan business, the company was founded by Mike Cagney in 2018. Documents show that Figure initially offered home equity line of credit (HELOC) products, and currently also offers loans based on cryptocurrency and a digital asset trading platform. The company has distributed over $16 billion in loans through blockchain channels. According to company documents, in the six-month period ending June 30, the company had a net profit of $29.1 million and revenue of $190.6 million; compared to a net loss of $15.6 million and revenue of $156 million in the same period last year.