Blockchain finance company Figure abandons SPAC listing, plans to raise $100 million

According to Bloomberg, blockchain fintech company Figure has abandoned a SPAC listing and its executives, including its president and chief financial officer, have left. Figure is currently seeking $100 million in funding, a third of its original plan, according to people familiar with the matter. Figure has not yet held formal financing talks and may choose to delay financing rather than lower its valuation, people familiar with the matter said. Figure was on track to raise $300 million last year, but then lowered its funding target as the market faltered.