These speculations put pressure on the market, causing XPL to lose value rapidly. The rumors spread quickly across social media, creating panic among investors and triggering FUD (Fear, Uncertainty, Doubt)-driven price volatility. While the situation particularly affected the confidence of new investors, the existing community has been closely monitoring developments.

Detailed Statement from Paulie Punt

Plasma founder Paulie Punt issued a public statement to restore investor confidence amid recent market speculation. Punt addressed claims regarding token sales and team composition, providing the following clarifications:

1. No Token Sales:
   Punt emphasized that no team members have sold XPL tokens. All investor and team tokens are locked for three years, with a one-year cliff for the initial release. This mechanism prevents uncontrolled market release and provides assurance to investors.
2. Team Background:
   The Plasma team consists of about 50 professionals, of whom only three previously worked on Blast or Blur projects. Punt highlighted that the team includes talent from Google, Facebook, Square, Temasek, Goldman Sachs, and Nuvei, stating: “If we label our team as ‘ex-Blast,’ we should equally label them ‘ex-Google’ or ‘ex-Goldman Sachs.’ This statement aimed to convey the team’s experience and professionalism to investors.

3. Wintermute Claims:
   Punt clarified that Plasma has never worked with Wintermute and has no market-making agreement. Regarding Wintermute’s holdings of XPL, the team only has access to the same public information as everyone else. This confirms that the rumors were false and there has been no external interference in the token.

Following Punt’s statement, the XPL token showed partial recovery in the market. Crypto analysts note that transparent communication and rapid responses during FUD-driven declines play a critical role in maintaining investor trust. The Plasma team’s clarification not only cleared misinformation but also helped the community focus on the project’s long-term goals.

What is Plasma (XPL)?

Stablecoins have become one of the most important use cases in the crypto ecosystem, with a market capitalization exceeding $250 billion and trillions in monthly trading volume. Plasma aims to meet these demands by offering:

• Zero-fee USDT transfers
• Customizable gas tokens
• Private payment support
• High transaction capacity on a global scale

Analysis

The Plasma (XPL) case clearly demonstrates the impact of FUD on investor psychology in the crypto market. Accurate and timely communication helps stabilize token prices and strengthens investor confidence in the project.

Founder Paulie Punt’s clear and detailed statements show that the Plasma team adopts a transparent approach and prioritizes keeping the community well-informed.

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The post Statement from the Founder Following Plasma (XPL) Token Decline! appeared first on Coin Engineer.

The study, conducted by Harris on behalf of the crypto venture capital firm Digital Currency Group (DCG), surveyed 2,036 Americans aged 18 and over. Results released on May 29 revealed that 56% of participants favored decentralized AI, while 77% stated that this technology is “more beneficial” for society.

Julie Stitzel, Vice President of Policy at DCG, said, “Two-thirds of Americans believe the transformative power of AI would benefit more people if it wasn’t concentrated in the hands of a few major players.”

Trust Issues with Centralization

67% of respondents said centralized AI systems are more likely to be biased, while 63% believe these systems tend to serve large tech corporations more than the average user, and are more prone to misuse of user data.

Decentralized AI on the Rise

For years, experts and industry figures opposing the dominance of big tech in AI have been highlighting the significance of decentralized systems.

Chris Miglino, co-founder and CEO of DNA Fund, stated that decentralized AI models hold even greater potential than Bitcoin.

Ben Goertzel, founder of SingularityNET, mentioned that he has supported the idea of decentralized AI since the 1990s. According to Goertzel, if an AI model reaching human-level intelligence is to truly benefit humanity, it must be built on a decentralized foundation.

On May 5, Tether CEO Paolo Ardoino announced that they are working on an AI platform that will support USDT and BTC payments in an integrated way.

Earlier this month, a new initiative called Thinkagents.ai introduced an open-source framework for creating on-chain AI agents capable of operating independently across decentralized networks. Over 70 crypto firms, including Yuga Labs and Magic Eden, have already adopted the protocol.

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The post Miglino: “Decentralized AI Has Even Greater Potential Than Bitcoin!” appeared first on Coin Engineer.

Tether Appoints New CFO to Strengthen Transparency and Regulatory Compliance

Tether has appointed Simon McWilliams as the Chief Financial Officer (CFO) to further enhance its leadership in the stablecoin sector and reinforce its commitment to financial transparency. With over 20 years of audit experience in major investment management firms, McWilliams will play a crucial role in advancing Tether’s transparency, regulatory compliance, and financial audit processes.

McWilliams’ appointment marks a significant step toward establishing industry standards and increasing regulatory engagement. The company, already making strides in stablecoin transparency with quarterly attestations from BDO, will now conduct a full audit to ensure financial integrity and verify its reserves.

Tether Expands Globally and Strengthens Transparency with Move to El Salvador

In line with its commitment to transparency and regulatory compliance, Tether has relocated to El Salvador as part of its global expansion strategy and obtained a Digital Asset Service Provider (DASP) license. These steps will solidify the company’s operational infrastructure and provide a stronger financial foundation in the crypto world.

Tether CEO Paolo Ardoino emphasized that McWilliams’ appointment is a milestone in the company’s journey towards achieving its financial audit and transparency goals. Tether will continue to support the financial strength of the U.S. economy while expanding its U.S. dollar-backed digital assets globally.

Tether Strengthens Global Strategy with Giancarlo Devasini’s Appointment as Group President

Tether has been a pioneer in the global stablecoin market since 2014. Holding over $113 billion in U.S. Treasury bonds, the company is now the 18th largest holder of U.S. government bonds. These investments support the global stability of the U.S. dollar and provide financial access to more than 400 million users worldwide.

Giancarlo Devasini, Tether’s visionary leader, will transition from CFO to Group President. Devasini will continue to guide the company’s macroeconomic strategies and global digital asset adoption efforts.

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