Inside the ICO Details and What’s Next for the Project

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XPL Public Sale

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Confidence in the Project and Its Backers

Plasma raises $24M in Seed and Series A rounds with support from top investors

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Decreased Potential Returns

What Is Plasma?

Ethereum

Bitcoin

Tether

Glowing "$1B" hologram above a circular platform with a suited figure in a dark, futuristic crypto-themed illustration

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Plasma, the first project launched on Cobie’s Sonar platform, stunned the crypto world by raising $1B in days. With high-speed deposits, major backers, and a stablecoin-first blockchain design, Plasma is shaping up to be a serious player in DeFi.

Framework Ventures

Bitfinex

DRW Venture Capital

Bybit

Mirana Ventures

Nomura

Founders Fund

Peter Thiel

Paolo Ardoino

Cobie

Plasma Raises $1B on Sonar Platform

ICO Plasma by Tether

How does the sale work?

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How much can you return from a $1,000 investment?

Why this ICO could be an opportunity for investors

Who invested earlier?

Community support isn’t just talk

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Plasma’s $250M XPL Token Sale

Minimalist digital illustration of a futuristic balance scale in teal light, set against a dark, clean background.

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Downsides of the Decision

Potential Upsides

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Conclusion

USDS

Tether coin glowing above a launchpad with radial lines and a silhouetted figure on a dark teal background.

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Plasma is launching a major public token sale for XPL via Sonar, Echo’s new platform. With backing from Tether and Cobie, and a fair, transparent structure, it’s a rare shot at early access without insider ties.

echo

Coinbase Ventures

XPL Token Sale Launches June 9 on Sonar

United States of America

Cobie, a well-known pseudonymous figure, has made a significant impact both on crypto Twitter and within the broader cryptocurrency industry. Beyond his online presence, he's also recognized as the founder of Echo.

Framework Ventures is a cutting-edge venture capital firm deeply immersed in the world of decentralized finance (DeFi) and blockchain technology. Founded by Michael Anderson and Vance Spencer, Framework Ventures stands out as a key player in the rapidly evolving landscape of digital assets and blockchain-based financial innovations.

Investing in the crypto-powered Web3 and creator economy ecosystems

6MV (6th Man Ventures)

Italy

Paolo Ardoino is the CEO of Tether & CTO of Bitfinex

Virgin Islands (British)

Bybit is a global cryptocurrency derivatives exchange designed for all retail traders, professionals and investment institutions alike.

Taiwan

Bitfinex is the world's leading digital asset trading platform.

Zaheer

DRW Venture Capital, an arm of principal trading firm DRW, invests primarily in financial and enterprise technology. Many of our portfolio companies benefit from our engagement beyond capital: as a client, as a liquidity provider, through our review of new products, and through our deep industry expertise.

As a firm with no outside investors, wehave a flexible mandate to deploy capital and often tap into our core business to help companies grow. We’re powered by the people, technology and ideas of DRW, and those we invest in may leverage it all. DRW has diversified business expertise and deep networks in trading and technology, real estate investment, cryptocurrencies and product development — a unique advantage.

Flow Traders

IMC Financial Markets

Laser Digital is a crypto business redefining the frontier of digital finance for institutional investors.

Laser Digital

Guy Young

Plasma

Founders Fund is a venture capital firm based in San Francisco, specializing in investments in science and technology companies.

Manifold Trading is a early-stage web3 fund that takes a data-driven, systematic approach to making high-conviction investments.

Manifold Trading

Anthos Capital

Karatage

Christian Angermayer

Blockchange Ventures is an investing firm that invest in early-stage blockchain companies, protocols, and applications.

Blockchange Ventures

Germany

Blockwall Management is BaFin-registered blockchain venture Capital fund.

Blockwall Management

GFR Fund is a venture capital fund that invests in early-stage startups that are disrupting the consumer entertainment industry.

GFR Fund

Vinny Lingham

Adam Jackson

Sean Cohan

Trevor Traina

Orlando Bloom

Collectibles

United Kingdom

Kingsway Capital

Investing in the future of trust (Blockchain, Privacy, AI)

Cygni Capital

M13 provides strategic counsel and operational expertise to help founders grow their companies.

Valor Equity Partners is an operational growth investment firm focused on high-growth companies across various stages of development. For decades, it has served its companies with the expertise to solve the challenges of growth and scale. Valor Equity partners with companies and entrepreneurs who are committed to the highest standards of excellenceand the courage to transform their industries.

Valor Equity Partners

Goldcrest is a venture capital fund that invests in private technology companies.

Goldcrest Capital

Alarko Ventures invests in the most promising early stage technology companies around the world and helps them become sustainable businesses.

Alarko Ventures

Türkiye

Esas Ventures is the venture capital arm of Esas, one of the largest family-owned investment firms in Turkey.

Esas Ventures

River Financial

Polychain Capital is a cryptocurrency-focused investment management firm and hedge fund. It was founded in 2016 by Olaf Carlson-Wee, who was the first employee at Coinbase and is known for being one of the earliest advocates of cryptocurrencies and blockchain technology. Polychain Capital is headquartered in San Francisco, California, and is considered one of the prominent players in the cryptocurrency investment space.

Polychain Capital

IDEO CoLab Ventures is a venture capital (VC) arm associated with IDEO CoLab, an innovation and design consultancy. IDEO CoLab Ventures focuses on investing in and supporting startups that are developing innovative technologies and solutions in emerging fields such as blockchain, decentralized finance (DeFi), and Web3 technologies.

IDEO CoLab Ventures

Slow Ventures is known for its patient and supportive approach to investments. They often take a long-term view and provide guidance, mentorship, and resources to the startups they back.

Slow Ventures

Castle Island Ventures is a venture capital firm

Castle Island Ventures

DG Lab is a unique, non-conventional venture capital fund that combines both investment and world-class R&D capabilities.

DG Lab

Pfeffer Capital

Steve Lee

Craft Ventures is an early-stage venture fund specializing in the craft of building great companies. It has brought together a rare combination of entrepreneurial experience and investor acumen. Over the past twenty years, David, Bill, Jeff, and Sky have built and invested in some of the most iconic companies of this generation.

The firm consistsof a team of 15 investors and operators that are united by a quest to find the next generation of world-changing companies and deep respect for the founders who create them.

Craft Ventures

The Kraft Group is the holding company for the diverse business interests of the Kraft family.

The Kraft Group

Coinbase Ventures is the venture capital arm of Coinbase, one of the largest and most well-known cryptocurrency exchanges in the world. Coinbase Ventures is focused on investing in early-stage companies and projects in the blockchain and cryptocurrency space. It provides funding, resources, and support to startups and entrepreneurs working on innovative blockchain and crypto-related technologies and applications.

Digital Currency Group builds and supports bitcoin and blockchain companies by leveraging insights, network, and access to capital.

Digital Currency Group (DCG)

Sam Altman is the co-founder and CEO of OpenAI. Sam was previously the Chairman of Y Combinator, a leading silicon valley startup accelerator.

Sam Altman

Tim Draper is an American venture capitalist and entrepreneur known as the founder of Draper Fisher Jurvetson (DFJ).

Tim Draper

Bedrock Capital

Arkham

Malta

YZi Labs is an investment firm formerly known as Binance Labs that invests in all stages of development in the fields of Web3, artificial intelligence (AI), and biotechnology.

YZi Labs (prev Binance Labs)

Pantera Capital is a blockchain and cryptocurrency-focused investment firm and hedge fund. It was founded in 2013 by Dan Morehead, who is a former Wall Street executive and chief financial officer (CFO) at Tiger Management. Pantera Capital is known for being one of the earliest institutional investors in the cryptocurrency space and has been actively involved in supporting the growth and development of blockchain technology and digital assets.

Pantera Capital

The CMT Group has acted as a valued collaborator to numerous exchanges, clearing firms, and trading and investment teams, generating edge by pairing market insight with early adoption and innovation of nascent technologies.

CMT Digital

gumi Cryptos Capital is a blockchain and cryptographic asset fund that invests in the crypto native stack from L1 to the application layer, as well as in traditional businesses supporting the ecosystem.

gumi Cryptos Capital

Robert Leshner

Pioneers in digital asset investing. CoinShares manages $1B in assets on behalf of a global investor base.

CoinShares

Valaren ventures

Vauld

Compound is a thesis-driven, research-centric investment firm leading seed rounds.

Compound

Singapore

LuneX has a global mandate to invest exclusively in high-growth blockchain companies and cryptocurrency assets.

LuneX Ventures

The Spartan Group primarily focuses on investments in digital assets, cryptocurrencies, and blockchain-related projects. They actively manage a portfolio of various cryptocurrencies, including Bitcoin and Ethereum, as well as other tokens and blockchain assets.

The Spartan Group

China

Fenbushi Capital is the first and most active blockchain-focused venture capital firm in Asia

Fenbushi Capital

Dragonfly Capital Partners, commonly referred to as Dragonfly Capital, is a venture capital firm that focuses on investments in the blockchain and cryptocurrency space. Dragonfly Capital is known for its active involvement in the blockchain and crypto industry and its commitment to supporting innovative projects and companies.

Dragonfly Capital

Jump Capital is a venture capital and growth equity firm that focuses on investing in technology-driven companies across various industries. With offices in Chicago and New York, Jump Capital has established itself as a strategic investor with a broad portfolio, encompassing sectors such as software, fintech, healthcare, and more.

Jump Capital

Alan Howard

Australia

Kain Warwick

Hong Kong

Cambium Grove Capital

BitDAO

Funding Round

Private Sale

Series B

Seed Round

Series A

MemeCore

Mantle

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			Stage	Investors
XPL Plasma	$20.50 M	~$205.00 M	Funding Round	+10	Blockchain	Feb 13, 2025
Collectibles	$5.00 M	~$50.00 M	Seed Round	+6	NFT	Jun 13, 2023
River Financial	$35.00 M	~$350.00 M	Series B	+5	Finance	May 16, 2023
ARKM Arkham	$12.00 M	~$120.00 M	Funding Round	+3	Big Data	Apr 17, 2023
Vauld	$25.00 M	~$250.00 M	Series A	+5	--	Jul 29, 2021
BIT BitDAO	$230.00 M	$4.60 B	Private Sale	+7	DAO	May 2021

Peter Thiel

About Peter Thiel

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