Plasma will reopen a deposit limit of $500 million, raising the total limit to $1 billion.

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On June 12, the stablecoin project Plasma announced that it would reopen the $500 million deposit limit one hour later (9 AM Beijing time), raising the total limit to $1 billion. Deposits will earn returns through the Veda audited treasury contracts on Aave and Maker. After the lock-up period, all assets will be converted to USDT. Plasma previously received strategic investment from Founders Fund, led by Peter Thiel, and announced the completion of a $24 million financing round earlier this year (with $20 million in Series A and $4 million in seed funding), led by Framework Ventures, with participation from the cryptocurrency trading platform CEX, venture capitalist Peter Thiel, and Tether CEO Paolo Ardoino.

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