Plasma

Stablecoin-focused blockchain Plasma raised its deposit cap to $1 billion early Thursday — and hit that limit within 30 minutes. The new cap marks a doubling from the prior $500 million ceiling, which had itself been raised just days earlier …

Plasma, a crypto startup developing a blockchain optimized for stablecoins, attracted $500 million in deposits for its token sale on Monday — 10 times more than originally planned. The fundraising cap was filled in five minutes as investors scrambled …

The project, which also claims Tether’s Paolo Ardoino as an investor, aims to enhance stablecoin adoption through a Bitcoin sidechain that allows zero-fee USDT transactions.