Golden Finance reported that documents reviewed by Bloomberg show that blockchain financial company Figure Technologies Inc. fired 90 employees this week, accounting for about 20% of its total workforce. The company has also begun planning an initial public offering (IPO) for its lending business next year, documents show.


It is reported that the purpose of Figure is to use blockchain technology to build financial products. Figure's lending business saw a record $900 million in transaction volume in the second quarter of this year and $83.5 million in revenue in the first half of the year, documents show. Figure generated an adjusted profit of $2.7 million in the second quarter.
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