Rumor: The Plasma XPL team is the original Blast team

Author: Crypto Fearless; Source: X, @cryptobraveHQ

The Plasma XPL team is the original team behind Rug Chain Blast.

Last time, we talked about DWF's stablecoin FalCon @FalconStable, and now we're talking about Plasma.

1. Plasma has almost nothing to do with Tether. Tether co-founder Paolo Ardoino personally invested only $50,000 in Plasma's $24 million round.

2. Plasma's primary investor is Framework Ventures. The impressive feat of this VC and team lies in their ability to exploit the information gap and brand this project as Tether's own. 3. The entire team has virtually no experience with payments or stablecoins. Plasma's current model is nearly identical to Blast's: find a hot market, partner with a strong partner, and attract deposits. Then, the token issuance ends. As for the virtual card (U-card) business, it's no different from any other U-card on the market. It's at the downstream of the payment chain and will inevitably be strangled. 4. Pacman (Chinese name Tieshun) fell out with everyone on the original team. With the exception of Tieshun, the main team members left to start Plasma. With the exception of Pacman, who publicly disclosed his real names, the other Blast team members have never publicly disclosed their identities. Therefore, no Plasma team member's resumes contain any reference to Blast. PS: Due to a lack of information on market makers, opening chips, and other factors, this post serves only as an archaeological study and is not a definitive analysis of Plasma $XPL's value, price, or investment. When Wuwei spoke with a core member of Tether in South Korea, they stated that Plasma and Stable had no direct impact on us and that we should just observe them. I will expand on this and discuss Stable later.