When Shift Happens Podcast

E139: Plasma Founder: The Truth About Raising $1 Billion in Crypto

Sep 17, 2025
In a riveting discussion, Paul Faecks, Founder and CEO of Plasma, shares insights from his record-breaking $1 billion fundraising launch in just 90 seconds. He delves into the importance of stablecoins, the evolution of crypto models, and the challenges of building institutional solutions. With a poker player's mindset, Paul outlines Plasma's vision for accessibility, speed, and cost-effective transactions in the stablecoin landscape. He also discusses strategies for market share growth, including partnerships and risk management in a rapidly evolving industry.
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ANECDOTE

The Terrifying 90-Second Launch

  • Opening deposits for Plasma was the most stressful moment Paul experienced because of security and execution fears.
  • The $1B filled in about 90 seconds and relief came only gradually as they monitored contracts and multisig safety.
ANECDOTE

From Poker Tables To Crypto Startups

  • Paul left a near-complete university degree and nearly joined an HFT firm before choosing entrepreneurship and poker.
  • Early company Alloy surfaced that institutional crypto demand exists but B2B sales proved bureaucratic and slow.
INSIGHT

Stablecoins As Crypto's Core Use Case

  • Stablecoins are the single most interesting sector in crypto because blockchains best serve moving value globally.
  • That payment-focused perspective reframes blockchain priorities around settlement rails, not general-purpose apps.
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