Plasma CEO refuses XPL Token Sale rumors

Paul Faecks says that no XPL teams have been sold, with allocations locked for three years by one year cliff in the midst of Insider Dump Rumors.

Paul Faecks, CEO of Plasma, has clarified that no team members have sold their XPL allocations.

His statement came in response to speculation after the recent launch of the token.

Faecks is tackling XPL -Beezoren

The controversy started when blockchain -speuzen marked large XPL transactions of Team Wallets shortly after the debut, where some suggested that these movements were linked to insiders who could cash in early. Critics also pointed to the presence of former employees of troubled projects such as Blast and Blur in the Plasma team.

Faecks has since tackled the concerns around XPL, entry On X that nobody had sold tokens and that all investor and team assignments remain locked for three years with a one-year cliff. He also explained that although three of the approximately 50 employees of the company previously worked at Blur or Blast, the team also includes professionals from Google, Facebook, Square, Temasek, Goldman Sachs and Navei, making it inaccurate to label the group as a “ex-blast”.

The CEO also clarified that the winter mute did not engage as a market maker and never contracted its services, and added that the company has no extra insight into its ownership of XPL than what is publicly known.

The statement concluded that he confirmed that they are “laser -oriented on building up the future of money.” Plasma went live earlier this week with his native cryptocurrency XPL. The event attracted attention, with the token short trending at major stock markets such as hyperliquid, where it achieved a completely diluted appreciation of around $ 8 billion.

The project presents itself as a blockchain built for global money transfer, starting with more than $ 2 billion in stablecoin liquidity, zero-fee USDT transfers during the rollout and integrations in more than 100 Defi protocols.

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Plasmas TVL touches $ 5.7 billion

The plasma minnet has gained strength since the launch. Defillama to show That the total value has been locked has already risen to $ 5.69 billion, ranked as the sixth largest Stablecoin network after Ethereum, Tron, Solana, Binance Smart Chain and Hyperliquid.

The recent launch was supported by months of community campaigns, including a deposit drive in June that reached $ 1 billion in just over 30 minutes. The Stablecoin Layer-1 also completed a public sale of $ 50 million that was surpassed by $ 323 million, while a Binance earning product for Plasma USDT met its $ 1 billion subscription ceiling.

The Crypto startup is also preparing for the release of Plasma One, a consumer app designed as a stablecoin-native “neobank” for saving, expenditures and sending digital dollars. The product is planned to debut later this year, where CEO Faecks says that the company’s mission is to expand global access to dollars, whereby stablecoins is described as “Money 2.0” that can unlock that investment options, regardless of the local conditions.