Mike Cagney![]()
Founder Cabezon
Co-Founder SoFi, Figure, Provenance and Figure Markets
Mike brings decades of experience in the financial industry to Figure. Prior to founding Figure and serving as its first CEO, he was CEO, chairman and co-founder of SoFi, a leading marketplace fintech. He was also co-founder and managing member of Cabezon Investment Group, a global macro hedge fund, in addition to serving as a non-executive chairman of ReFlow. Before Cabezon, Mike founded, was CEO and then vice chairman and chief architect of Finaplex, a leader in wealth management software that was sold to Broadridge (NYSE: BR). Prior to Finaplex, Mike was Senior Vice President and head trader for the proprietary trading and financial products group at Wells Fargo Bank.
The biggest hurdle DeFi has - at least related to RWAs - is capital. In its purest form, lending through DeFi is just asset based lending. You have a tradeable asset as collateral. You look at the liquidity, volatility and advance rate and make a lending decision. You aren’t
Mike Cagney
Jan 21
I’m about two weeks late (two years in blockchain time) around this privacy movement on blockchain, but I’m going to chime in anyway because it’s something we’ve put a lot of thought into.. First, there are certain things that can’t be public on chain. When @Figure originates a
Mike Cagney
Jan 20
When the bank CEOs complain about yielding stablecoin taking their deposits and adversely impacting lending for everyone, they are pushing a false narrative. Those deposits-turned-stables will go into DeFi. The loans the banks once had will go on blockchain and be financed
Mike Cagney
Jan 18
As we’re thinking about the evolution of blockchain, we need to ask the question: “Why is blockchain better than the status quo?” Too often, the answer is a lot of handwaving. Saying things like “reduced back-office cost” and “better liquidity” without being able to back it up.
Mike Cagney
Jan 18
Or go to https://t.co/vBVqLAJbRQ
Mike Cagney
Jan 17
With all this drama around stablecoins and yield, I think it's worth pointing out that @Figure has a stablecoin that yields today. $YLDS. It's native on @provenancefdn, @solana, @SuiNetwork and other L1s soon. It pays interest, can move peer to peer, is programmable and has
Mike Cagney
Jan 17