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Binance’s Plasma USDT Fixed-Term Product Fully Subscribed at 250 Million USDT

According to Binance, the Plasma USDT product’s newly added $250 million tranche was sold out within five minutes, underscoring strong demand after the subscription cap was raised to $1 billion.

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Fact Check
The statement is directly supported by multiple credible news sources. Evidence from ainvest.com explicitly states 'the 250 million USDT fixed-term quota...was completely sold out', and coindesk.com reports the '$250M USDT Yield Program on Binance filled in less than an hour'. Primary sources from Binance confirm the product's existence and launch.
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Summary

Binance announced that its Plasma USDT fixed-term product’s second $250 million quota was sold out within five minutes of opening on August 22. Earlier that day, Binance had raised the total subscription cap for the Plasma product to $1 billion. The rapid sellout reflects high demand from users for the fixed-term USDT offering, which continues to attract significant participation following the initial tranche.

Terms & Concepts
  • USDT (Tether): A stablecoin pegged to the US dollar, commonly used for trading and liquidity in crypto markets.
  • Fixed-Term Product: An investment product with a set duration, where funds are locked until maturity, often providing fixed interest or rewards.
  • Plasma USDT: A Binance-specific offering involving USDT in a structured fixed-term investment product, integrated with the Plasma blockchain upon mainnet launch.