{"id":12346,"date":"2025-10-02T06:56:02","date_gmt":"2025-10-02T06:56:02","guid":{"rendered":"https:\/\/bitunikey.com\/news\/plasma-ceo-denies-claims-of-team-selling-allocation-as-xpl-token-drops-45-from-peak\/"},"modified":"2025-10-02T06:56:13","modified_gmt":"2025-10-02T06:56:13","slug":"plasma-ceo-denies-claims-of-team-selling-allocation-as-xpl-token-drops-45-from-peak","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/plasma-ceo-denies-claims-of-team-selling-allocation-as-xpl-token-drops-45-from-peak\/","title":{"rendered":"Plasma CEO denies claims of team selling allocation as XPL token drops 45% from peak"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Plasma\u2019s XPL token has fallen 45% from its peak, and founder Paul Faecks has denied rumors of insider selling, market maker ties, or team exits.<\/p>\n<div id=\"cn-block-summary-block_f5dd352397d917be2e3ba232d63b792d\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>XPL token fell 45% from peak after launch hype.<\/li>\n<li>Rumors alleged team token dumps and market maker ties.<\/li>\n<li>Founder Paul Faecks denied sales, citing 3-year lockups.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>The volatility followed XPL\u2019s rapid rise after its late September launch. The token debuted around $1.00, quickly surged to an all-time high of $1.69 by Sept. 28, and then slipped back to $0.74\u2013$1.08 within days. <\/p>\n<p>The sharp decline sparked accusations on social media that Plasma insiders had sold large allocations, pointing to the team\u2019s past ties with Blast and Blur, as well as speculation about involvement from market maker Wintermute.<\/p>\n<h2 class=\"wp-block-heading\">Addressing the Plasma token sale<\/h2>\n<p>On Oct. 1, Plasma co-founder and CEO Paul Faecks addressed the claims directly on X. He said no member of the team or early investors has sold any XPL, since their allocations are subject to a three-year lockup with a one-year cliff. \u201cAll investor and team XPL is locked,\u201d he noted, adding that circulating supply has only come from the public sale and liquidity allocations.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">We\u2019ve seen a number of rumors circulating since the launch of XPL and want to set the record straight.<\/p>\n<p>1\/ No team members have sold any XPL. All investor and team XPL is locked for 3 years with a 1 year cliff.<\/p>\n<p>2\/ Of our team of ~50, three spent time at Blur or Blast. Our team\u2026<\/p>\n<p>\u2014 Paul (@pauliepunt) <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/pauliepunt\/status\/1973495918709391529?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">October 1, 2025<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>On questions about team composition, Faecks stressed that only three of Plasma\u2019s roughly 50 employees had any connection to Blur or Blast. He highlighted that the team also includes professionals with experience at Google, Facebook, Square, Goldman Sachs, and Temasek, saying it was misleading to label Plasma as \u201cex-Blast.\u201d<\/p>\n<p>He also addressed speculation about Wintermute, stating that Plasma \u201chas not engaged Wintermute as a market maker and has never contracted Wintermute for any of their services.\u201d He emphasized that the company has no insider information about Wintermute\u2019s token holdings beyond what is publicly visible.<\/p>\n<h2 class=\"wp-block-heading\">Building beyond the FUD<\/h2>\n<p>The statement comes after a highly publicized token generation event on Sept. 25 that attracted more than $3 billion in trading volume within hours and listings on major exchanges including Binance, OKX, and Upbit.\u00a0<\/p>\n<p>Plasma raised $373 million in July through a public sale, well above its $50 million target, which helped fuel the hype around launch. With $2 billion in stablecoin total value locked and more than 100 decentralized finance integrations at mainnet beta, the project positioned itself as a specialized layer 1 chain for stablecoins.<\/p>\n<p>Despite the strong fundamentals, community concerns intensified as early profit-taking combined with large wallet transfers visible on-chain. Some critics labeled the launch unfair to retail buyers, while others accused the team of fueling a \u201cwhale-sale.\u201d <\/p>\n<p>Faecks\u2019 message sought to ease those doubts by reiterating that Plasma\u2019s focus is on long-term infrastructure rather than short-term speculation.<\/p>\n<p>For now, XPL trades roughly 40\u201345% below its peak. Whether the founder\u2019s reassurances calm the market may depend on continued transparency, sustained adoption of Plasma\u2019s stablecoin ecosystem, and broader conditions in the altcoin market.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Plasma\u2019s XPL token has fallen 45% from its peak, and founder Paul Faecks has denied rumors of insider selling, market maker ties, or team exits. Summary XPL token fell 45%&hellip;<\/p>\n","protected":false},"author":1,"featured_media":12347,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-12346","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/12346","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=12346"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/12346\/revisions"}],"predecessor-version":[{"id":12348,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/12346\/revisions\/12348"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/12347"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=12346"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=12346"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=12346"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}