Plasma will reopen $500 million deposit limit, raising the total limit to $1 billion

BlockBeats News: On June 12th, stablecoin project Plasma announced that it will reopen the $500 million deposit limit one hour later (9am Beijing time), raising the total limit to $1 billion. Deposits earn profits on Aave and Maker through Veda's audited treasury contracts. After the lock up period ends, all assets will be converted to USDT. Plasma previously received strategic investment from Peter Thiel's Founders Fund and announced in February of this year that it had raised $24 million ($20 million in Series A funding and $4 million in seed funding), led by Framework Ventures, with participation from cryptocurrency trading platform Bitfinex, venture capitalist Peter Thiel, and Tether CEO Paolo Ardoino.