FUD Victim Altcoin Founder Forced to Make Statement – Today It Had Fallen Significantly

The new cryptocurrency project Plasma (XPL) has responded to the allegations circulating on social media in recent days.

Rumors surrounding the XPL token suggested that the team was “made up of former Blast employees,” that “Tether CEO Paolo Ardoino invested only $50,000,” and that “the team sold 800 million tokens.”

Plasma founder Paulie Punt denied these allegations one by one in his statement:

• No token sale: Punt stated that no team member sold XPL, all investor and team tokens are locked for 3 years, and there is a cliff for the first year.
• Team history: Punt said there are approximately 50 people on the Plasma team, but explained that only three of them previously worked at Blur or Blast. He also argued that the team comes from companies like Google, Facebook, Square, Temasek, Goldman Sachs, and Nuvei, adding, “If we were to describe our team as ‘ex-Blast,’ we should equally call it ‘ex-Google’ or ‘ex-Goldman Sachs.’”
• No connection to Wintermute: Punt stated that they have never worked with Wintermute and have never engaged in any market-making activities. He added that they have the same information about Wintermute’s holdings on the XPL as the public.

The XPL price had lost 17% of its value in the last 24 hours, but there was a recovery following the exchange rate announcements.

*This is not investment advice.