Plasma announces the reopening of a $500 million deposit limit, increasing the total to $1 billion.

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On June 12, the stablecoin project Plasma announced that it would open the deposit limit of $500 million again in 1 hour (9 a.m. Beijing time), raising the total limit to $1 billion. Deposits earn yield on Aave and Maker through Veda’s audited vault contracts. After the lock-up period ends, all assets will be converted to USDT. Plasma was previously strategically invested by PeterThiel’s Founders Fund, which announced in February that it had closed a $24 million funding round ($20 million Series A and $4 million seed round), led by Framework Ventures, with participation from Peter Thiel, a trading platform, venture capitalist, and Paolo Ardoino, CEO of Tether.

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