Andrew Cronk is a co-founder of Figment, a blockchain staking and Web3 infrastructure company based in Toronto. He started it in 2018 with Lorien Gabel and Ben Chan.
Figment gave institutional token holders a way to earn staking rewards without running validator machines, as proof-of-stake networks began to grow.
It raised a C$2.5m seed in October 2020. In August 2021 it closed a C$63m Series B, about US$50m, at a valuation of about US$500m. The company had 75 employees then.
Figment later opened offices in New York and Warsaw. Its business moves with crypto-market cycles and it competes with exchanges and liquid-staking protocols.