Stablecoin Blockchain Plasma Fills $500 Million ICO Instantly

Description

Stablecoin-focused Layer 1 blockchain Plasma filled its $500 million ICO vault within minutes, highlighting intense investor demand. The cap was doubled from $250M after the initial allocation was instantly claimed.

Authors

Squiffs

Publish date

June 9, 2025

Publisher

The Defiant

Web URL

https://thedefiant.io/news/blockchains/stablecoin-blockchain-plasma-fills-usd500-million-ico-instantly

Referenced by

Plasma is a ‘stablechain,’ or a Layer 1 (L1) blockchain optimized for stablecoin transactions, backed by Tether, the issuer of DeFi’s leading stablecoin, USDT.

Crypto news

Quote

The largest contributor to the presale sent the maximum allocation of $50 million, taking up 10% of the total presale. 38% of the raise is held by the top 10 depositors, and 50% belongs to the top 17.

Crypto news

Quote

Plasma completes $500M initial coin offering

Crypto news

News story