2-10-2025 – Plasma CEO Paul Faecks has refuted rumors about XPL token sales, affirming that no team members have sold any holdings. He explained that all investor and team tokens are locked for three years with a one-year cliff, preventing any unlocks or sales in the near term.
Faecks also corrected characterizations of the Plasma team as “ex-Blast,” noting that of about 50 members, only three have prior experience at Blur or Blast. The team draws from diverse backgrounds, including Google, Facebook, Square, Temasek, Goldman Sachs, and Nuvei, making such labels inaccurate.
Additionally, he denied any market-making agreement with Wintermute, stating Plasma has no service contracts with them and only public data on their XPL holdings. The clarifications come amid community concerns following XPL’s launch, as Plasma aims to build trust in its stablecoin-focused protocol. The project’s emphasis on transparency could help stabilize sentiment after recent volatility in token prices.
