A New Crypto Project Vowed to Transform Stablecoins. Then Its Token Crashed 90%
When Plasma launched its stablecoin-focused blockchain initiative earlier this year, supporters hailed it as a cutting-edge reinvention of how digital dollars could be minted, transferred, and settled at scale. Early promotional material described a powerful network designed from the ground up to support institutional-grade stablecoin issuance — a system that would be “fast, secure, composable,…