Plasma raised $373 million in their token sale 7x oversubscribed from the original $50M target. The backing is serious: Peter Thiel’s Founders Fund, Framework Ventures, Bitfinex, and direct support from Tether’s CEO Paolo Ardoino. The team comes from Apple, Microsoft, Goldman Sachs, and has hands-on experience building major stablecoins. They’re targeting the $250 billion stablecoin market that’s projected to hit $3 trillion by 2030. What makes sense is they’re not competing with general-purpose chains they’re optimizing specifically for payment rails where high fees kill adoption.
