Plasma Raises $500 Million for Stablecoin-Focused Blockchain Project

Plasma, a company focused on stablecoins, secured an impressive $500 million in its public token offering, surpassing its initial target by a significant margin. The token sale closed within just 40 minutes of launching, after the team revised their fundraising goals twice due to overwhelming interest from investors. Over 1,100 wallets participated in the offering, with each participant averaging a deposit of around $35,000. This sizable participation contributed to a fully diluted valuation of $500 million, consistent with previous investment rounds, which were backed by well-known firms like Founders Fund. 💰