Plasma Labs issued a statement to counter speculation after its native token XPL faced strong selling pressure in recent days. On Thursday, October 2, 2025, the company clarified that no team member or investor sold tokens. Instead, all XPL distributions remain locked for three years with a one-year cliff. The firm also denied any connections with Wintermute, a leading market maker, emphasizing that it has never entered into contracts with them.
The statement appeared after rumors linked the core Plasma team to previous ventures and raised questions about the distribution of tokens. "No team member has sold any XPL. All investors and the XPL team are locked in for 3 years with a 1-year cliff," said Paul, co-founder of Plasma. He further clarified that while some employees previously worked at Blur and Blast, others come from Google, Facebook, Goldman Sachs, and Temasek.
