USDT News: Plasma Raises $24 Million to Boost Stablecoin Efficiency with Blockchain Technology

Plasma, a blockchain startup, has secured $24 million in funding to develop a system specifically designed to enhance the efficiency of Tether’s USDT USD-pegged stablecoin.

Plasma Raises $24 Million to Develop Blockchain for Stablecoin Efficiency

Plasma, a blockchain startup, has successfully raised $24 million from investors to develop a blockchain-specific system for Tether’s USDT USD-pegged stablecoin. The funding round was led by Framework Ventures and included investors such as Bitfinex, Peter Thiel, and Tether CEO Paolo Ardoino. Plasma aims to improve stablecoin scalability with zero-fee transfers on Bitcoin-based blockchains, enhancing DeFi and payments efficiency. The startup’s system enables feeless USDT transfers, providing users with both scalability and cheaper transaction rates.

Tether Invests in Juventus, Sending Token Soaring

Tether, the issuer of the $140 billion stablecoin USDT, has acquired a minority stake in Juventus FC, one of Italy's most iconic football clubs. The announcement sent Juventus shares climbing and sparked a dramatic rally in the club's fan token, highlighting growing intersections between crypto and traditional industries.

Crypto Sniper Scores $27.8M Profit on Meme Coins Linked to Binance CEO's Dog

A high-rolling crypto sniper capitalized on a meme coin frenzy sparked by Binance CEO Changpeng Zhao revealing his dog's name, Broccoli. The sniper bought numerous Broccoli-themed coins and strategically sold them, resulting in a staggering $27.8 million USDT profit. This massive gamble comes amidst a debate on CZ’s stance on meme coins, after he hinted at a BNB-native coin.