Whales dominate Plasma launch
The launch of Plasma’s initial coin offering (ICO) has been accused of being dominated by a small number of whales. Plasma’s ICO is a little different from older ICOs, with the initial sale allowing you to purchase “units,” which “determine your guaranteed option to purchase XPL.” Plasma advertises itself as “a high-throughput, scalable blockchain purpose-built for stablecoins.” Its ICO was launched earlier today, June 9, with an initial deposit cap of $250 million and a $50 million cap per wallet . Its deposit vaults were filled mere moments later. plasma deposit cap hit in 45 seconds very cool how they had a $250mm deposit cap with an individual wallet cap of $50mm really fair definitely not a scam where all capacity was taken by justin sun on 5 separate wallets retarded lmaooo pic.twitter.com/87QLVs3Rdo — kook ️ (@KookCapitalLLC) June 9, 2025 Read more: What are Ethereum roll-ups and why do they matter? ...