DefiLlama Founder Pressured for Questioning Figure's Data

Summary

DefiLlama founder 0xngmi claims he was pressured after questioning Figure’s reported RWA data. Figure claims $12 billion in on-chain RWA, but DefiLlama found only $5 million in BTC and $4 million in ETH on their exchange, raising doubts about Figure’s asset transactions.Golden Finance

Impact Analysis

So basically, DefiLlama’s founder is calling out Figure for potentially inflating their on-chain RWA figures, which is a big deal given Figure’s recent IPO success. The timing is curious—right after Figure’s stock surged post-IPO, suggesting that any negative press could hit them hard. The discrepancy between Figure’s claimed $12 billion in RWA and the actual $9 million in crypto assets found by DefiLlama is stark and could undermine investor confidence if proven true. This feels like a classic case of ‘where there’s smoke, there’s fire,’ especially in the crypto space where transparency is key. Competitors might seize this opportunity to highlight their own transparency, while regulators could start sniffing around, adding pressure on Figure. The market might be underestimating the potential fallout here, so keeping an eye on Figure’s stock and any regulatory developments could be crucial.Golden Finance+ 2