Figma released its financial results following its public debut, but investor concerns regarding the company's cryptocurrency strategy and lockup expiration risks loom large.
Cryptocurrency Assets in Figma's Financial Report
In its latest report, Figma disclosed it holds $90.8 million in a Bitcoin ETF as part of its $1.6 billion cash reserves. CEO Dylan Field noted that while the company is not trying to emulate major crypto players, it believes in the inclusion of BTC on its balance sheet.
"We’re not trying to be Michael Saylor here," Field said. "But we think there’s a place for it in the balance sheet."
Risks Associated with Lockup Expiration
Investor sell-off is also attributed to the post-IPO lockup expiration on September 4, making 25% of employee-held shares available for sale. An additional 35% of shares will come off lockup in August 2026, a timeline closely monitored by investors.
Overall Market Volatility and Reactions
Although Figma's earnings exceeded expectations, concerns surrounding its cryptocurrency assets and potential stock volatility illustrate the rapidly evolving perceptions of public companies holding digital assets. The market remains cautious amid increasing scrutiny of crypto treasury strategies.
Figma's financial results may be strong, but the pressure on the company's shares from cryptocurrency assets and lockup expirations reflects a current instability in the financial market.
