Design software developer Figma has filed documents with the U.S. Securities and Exchange Commission (SEC) for its upcoming initial public offering, revealing investments in cryptocurrency assets. The company plans to list on the New York Stock Exchange under the ticker symbol FIG. The filing includes current financial indicators, including the share of capital invested in bitcoin and stablecoins.
Investments Through Bitwise and Stablecoin Strategy
According to the filing, on March 3, 2024, Figma acquired $55 mln worth of shares in the Bitwise Bitcoin ETF (BITB). By March 31, the investment had grown to $69.5 mln, resulting in an unrealized gain of 26%.
In addition, the company holds $30 mln in the stablecoin USD Coin (USDC), noting that these funds are intended for future bitcoin purchases. The company’s board of directors approved the investment of this amount in BTC on May 8, 2025. Following this decision, Figma converted $30 mln into USDC at a fixed exchange rate of $1 per unit. The filing emphasizes that the USDC will be used exclusively to acquire more bitcoin.
Bitwise CEO Hunter Horsley commented on Figma’s move, noting that the company is now holding around 5% of its balance sheet in bitcoin. He also added that more corporations are expected to include bitcoin in their reserve structures.
The Failed Acquisition Deal With Adobe
Back in 2022, Adobe had plans to acquire Figma for $20 bln, but the deal was blocked by the European Commission and the United Kingdom's antitrust authority. The primary concerns were potential monopoly risks and overvaluation of the transaction. The acquisition was officially canceled in December 2023, and Adobe paid Figma $1 bln as a termination fee.
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