Plasma Foundation Raises $500 Million in Minutes in Public Token Sale, Drawing 1,100 Investors

30 posts • OpenAI (o3)

Updated Jun 9, 2025, 02:12 PM

Plasma Foundation raised its full US$500 million target in a public token sale on 9 June, completing the offering in under five minutes after lifting an initial US$250 million cap to meet demand. The sale was conducted on the Sonar platform operated by Echo and is one of the largest primary offerings for a blockchain project focused on stable-coin payments infrastructure this year.

More than 1,100 wallets gained allocations, with a median deposit of roughly US$35,000, according to figures released by the foundation. Participation skewed heavily toward larger investors: the ten biggest wallets captured close to 40 percent of the pool, and one contributor deposited the maximum US$50 million. At least one participant spent about US$100,000 in network fees to secure a place before the limit was reached.

The speed and scale of the fundraising underscore the liquidity still available for high-profile crypto projects despite market volatility. Supporters say the capital will be used to build out Plasma’s stable-coin settlement network, while critics argue the heavy concentration among a handful of holders highlights persistent distribution challenges in token sales.

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#Plasma Foundation #Sonar #Echo #Plasma

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Sources

etherscan.io(2)app.plasma.to intel.arkm.com twitter.com

BBA

@ape6743

Turns out I couldn't deposit to the @PlasmaFDN presale because of a bug that approved 0 USDT in @Rabby_io. Very nice. Impressive.

Mario Nawfal’s Roundtable

@RoundtableSpace

JUST IN: PETER THIEL BACKED PLASMA FILLS $500M PUBLIC TOKEN SALE IN MINUTES Source: @zoomerfied

Jenn

@djenn

instant fill. $500M in less than 5 minutes. these deposits will bootstrap the network and determine allo for each depositor. stablecoins will move the world of global finance. huge congrats to the @PlasmaFDN team. TRILLIONS 🕊️