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Plasma Doubles Stablecoin Deposit Cap to $1 Billion with Institutional Deposits Ahead of $50 Million Public Sale

9 posts • GPT (4.1 mini)

Updated Jun 12, 2025, 11:21 AM

Plasma Foundation has doubled its stablecoin deposit cap from $500 million to $1 billion as of June 12, 2025. This increase was announced with a one-hour notice and quickly reached the previous cap level again. Depositors gain proportional rights to participate in a planned $50 million public sale at a $500 million fully diluted valuation (FDV), though the public sale itself has not yet occurred. The deposit vault has seen substantial activity, including large deposits from institutional addresses such as Amber Group, which contributed 16.3 million USDT, and Spartan Group, which deposited 5 million USDT.

The largest single deposit recorded was 50 million USDC. Some existing depositors have expressed concerns about dilution following the cap increase. Plasma has also provided instructions for pre-approving spenders via Etherscan to facilitate faster deposits. The recent surge in deposits and cap increase reflects strong institutional interest and active participation in Plasma's staking program.

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#Plasma Foundation #Amber Group #Spartan Group #Plasma #Etherscan

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Sources

theblock.co app.plasma.to

Vishal C.

@vishal4c

Many think @PlasmaFDN raised $500M in a public sale — that’s not accurate. Here's the actual details The $500M refers to the stablecoin deposit cap. Depositors get proportional rights to join the sale. This was raised to $1B yesterday. The actual public sale hasn’t happened

The Block

@TheBlock__

Plasma doubles its deposit cap, clarifies it is eyeing $50M public sale at $500M FDV

Ai 姨

@ai_9684xtpa

Terrible, Plasma's staking limit has been adjusted to 1 billion What's even scarier is that it reached 500 million in half an hour 😵‍💫 In the latest round of open deposits, institutions are still making efforts: Amber Group associated addresses deposit 16.3 million USDT, and Spartan Group associated addresses deposit 5 million USDT; however, as of now, the top address on the list is still 0x790... 41023 has saved 50 million USDC Pledge agreement