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Mike Cagney 🇺🇸

Verified account Figure

@mcagney

@HelloNavra employee, @Figure (FIGR) executive chair. Co-founder of Figure, @Provenancefdn, @SoFi and Navra. Views are my own, not investment advice.
Las Vegas figure.com Joined May 2009
187 Following 25K Followers 4.1K Posts

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Mike Cagney 🇺🇸 Verified account @mcagney
I’ve spent the last fifteen years moving lending from paper to digital to blockchain. SoFi proved borrowers didn’t need banks. Figure proved capital markets don’t need the middleman: roughly $2B a month (and growing) of real world assets now originate, finance, settle - and soon securitize - on a public blockchain. Lower transactional costs, better capital markets and better financing vs TradFi. And not mirrored on chain. Born there. Every other asset class will follow the same path: equities, funds, eventually anything with a cash flow. The horse has left the barn. The next decade of capital markets gets built by the people who already operate this way.
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Mike Cagney 🇺🇸 Verified account @mcagney
Transfer agents still run on 1970s rules — they need your name and a physical mailing address.

For tokenized securities, a digital wallet address does the job better: more privacy, faster settlement, more engaged shareholder governance.

We filed a joint comment with Securitize, Bullish/Equiniti and Plume asking the SEC to modernize transfer agent rules. 🧵

@Securitize @bullish @equiniti @centrifuge @plumenetwork
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8 replies 11 reposts 68 likes 6.1K views View on X
Mike Cagney 🇺🇸 Verified account @mcagney
Two of my favorite people, @MBTannenbaum and @APompliano talking about one of my favorite companies, @Figure!
Figure @Figure 1d
1/ “Ultimately, people who are in their homes and are looking to save money and time are not saying ‘I want to tokenize my mortgage’, but they are seeing the value of that tokenization, the capital markets see the value, the real-time data, so there’s a lot of benefits to it.”

Figure CEO @MBTannenbaum joined @APompliano on The Pomp Podcast to talk about the power of lending onchain.
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Mike Cagney 🇺🇸 Verified account @mcagney
Looking forward to the 12th!
Michael Tannenbaum Verified account @MBTannenbaum 3d
Affordability was on the ballot, and it’s top of mind for homeowners, lenders, and mortgage partners alike. At Figure, we’ve taken a $12k process --> $1k. I was at an industry summit in Charlotte yesterday, and partners and prospects said they’re prioritizing solutions that lower costs for consumers and for themselves. One example: our partners in the last few months have used Figure to help their customers directly pay off ~$700M in consumer debt – this is tech that drives growth. But that’s just part of it. We’re investing in capital markets innovation and smartly using AI to deliver even more. Will cover on our earnings call Nov 12.
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Mike Cagney 🇺🇸 Verified account @mcagney
Thank you to @milkroaddaily and John for having me on this week - I really enjoyed the conversation discussing @Figure and @HelloNavra, and the sustainability of DeFi alpha. I also got to do the shoot in front of my Godzilla pinball machine.
Milk Road Crypto Verified account @milkroaddaily 4d
Wall Street is collecting 2.5% for sitting in the middle of transactions. @mcagney wants to cut it out entirely.

Banks can borrow at SOFR and lend that money at SOFR + 250 basis points.

His argument? Blockchain can handle much of the risk management and settlement, allowing borrowers to pay less while investors earn more.

That's the real $6 trillion DeFi opportunity.

FT @BitcoinJesusETH @Figure

⏱ TIME POINTS ⏱
00:00 - Intro
01:12 - Figure's Rule of 40 Hits 150
04:14 - Figure Doubles Loan Volume
05:59 - What's Next for Figure?
08:28 - Milk Road PRO for $1
08:42 - Navra's $19M DeFi Bet
12:46 - Why Separate Navra From Figure?
14:12 - Who Is Navra Built For?
15:25 - What's Keeping Wall Street Offchain?
21:25 - AI Agents in Finance
24:39 - Sponsor: Nexo
25:13 - Sponsor: Alumni Ventures
25:41 - Why 50 Companies Reject Tokenized Stocks
30:35 - Bringing Stocks Onchain
32:08 - 24/7 US Treasuries Onchain?
33:43 - Do Crypto Regulations Matter?
36:12 - Track Top Investors for Free
36:55 - Does Crypto Need a Bull Run?
39:52 - The $6 Trillion Onchain Opportunity
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