Are figure-8 straps or lasso (loop) straps better?

It depends on the lift. Across specialist communities like r/Fitness and r/Strongman, figure-8 straps are favored for heavy, slow deadlifts because they lock the bar to the wrist and barely slip, while lasso/loop straps (the most common style) are more versatile across rows, shrugs and pulldowns and let you bail faster. Reviewers note figure-8s shorten range of motion slightly and are not recommended for olympic lifts where you need to release the bar.