KOL reveals: The Plasma team is the original team behind the former L2 project Blast and is not closely related to Tether.

BlockBeats News, September 23, according to a report by Crypto Fearless, the Plasma team is the original team behind the former L2 project Blast. Plasma does not have a close relationship with Tether; Paolo Ardoino, Tether's co-founder, personally invested only $50,000 in this round at Plasma’s $24 million valuation.

He stated that the main operator of Plasma is Framework Ventures, which leveraged information asymmetry to package Plasma as the “Tether’s own project,” but the entire team basically has no background in payments or stablecoins.

He also emphasized that Pacman (Tieshun) has fallen out with all the original Blast team members, and except for Tieshun, the other main members of the original team went on to create Plasma.

Crypto Fearless also mentioned that during communication with key Tether figures in South Korea, they stated that Plasma has no direct relationship with Stable or Tether.