“CEO DYLAN FIELD DISTANCED The Company’s Crypto Position from Evangelist Extremes, Saying Bitcoin Is Part of A Diversified Cash Approach.”, – WRITE: www.coindesk.com
The Move, Revealed by Chief Financial Officer Praveer Melwani, Comes As Part of A Larger $ 1.6 Billion Cash Position. “WITHIN The $ 1.6 Billion, We Also Held Approximately $ 91 Million in Our Bitcoin Exchange-Traded Fund,“ Melwani SAID.
Figma, whosh went public on the New York Stock Exchange in July, Has Had An Eventful Few Years. A Planned $ 20 Billion Acquisition by Adobe Collapsed in 2023 After Regulators Raised Antitrust Concerns. Since Ten, The Company Continued to Grow It Customer Base, WHICH INCLUDES 95% OF THE Fortune 500.
Unlike Some Firms That Have Turned to Bitcoin Holdings As A Last-Ditch Effort To Excite Investors or Pivot Away from Declining Core Busineses, Figma’s Apps.
“We’re Not Trying to Be Michael Saylor Here,” CEO DYLAN FIELD CNBC, REFERRING TO THE CO-FOUNDER OF MICROSTRATEGY, KNOWN FOR TURNING HIS PREVIUS Holder. “This is not, like, a bitcoin Holding Company. It’s a design company, but i Think There’s a Place for It in the Balance Sheet and As Part of a Diversified Treasury Strategy.”
Neither the increase in Bitcoin Exposure Nor the Better-Tan-Expected Revenue Boosted Investor Sentiment, at Least in the Short Term. Despite Beating Earnings Expectations, Figma Shares Droped 18% On Thursday, Closing At $ 55.96. That remains about the IPO price, but down about 50% from the frenzied iPo-day peak.
Figma’s Quiet Addition of Bitcoin to Its Treasury Adds Another Name to The List of Public Companies Experimenting with Digital Assets as Part of Their Finachl. offen associated with the move.
For Now, Bitcoin Remains A Small Slice of Figma’s Balance Sheet.
The Majoor US Exchange Will Require at Least Someones to Get Shareholder Approval Prior to Raising Money to Buy Crypto, Accounting To The Information.
- The nasdaq is reportedly aiming to put some constraints on the Rush of Companies Looking to Quickly Raise Money for Crypto Treasury Strategies.
- That news combined with Lower Crypto Prices is Putting Continued Major Pressure on Treasury Strategy Stocks.
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