Stable closes initial pre-deposit phase after reaching US$825 million

• Stable reaches maximum limit in minutes
• Network focuses on payments with stablecoins and USDT

Stable, a Layer 1 blockchain specializing in stablecoin transactions, announced it had reached the $825 million threshold in its Phase 1 campaign shortly after opening. The program allows participants to deposit stablecoins—primarily USDT—in exchange for future rewards tied to the network's native token and ecosystem incentives.

Momentum is building as Stable's foundation takes shape.

— Stable (@stable) October 24, 2025

According to the company, the initiative aims to drive adoption and create early liquidity for the network's future operations. The round included participation from institutional partners such as Frax Finance, Morpho Labs, Pendle, and LayerZero, which contributed to reaching the fundraising cap in a matter of minutes.

However, the move sparked controversy in the crypto community. Users on the X platform claimed that most of the deposits were made by a small group of large wallets even before the public announcement. On-chain researcher @0xastronomica reported that approximately 600 million USDT were sent by ten high-value addresses before the official announcement.

BRO VAULT WAS ALREADY FILLED 30 MINUTES AUG.

– 10 WHALES INVESTED 600 MILLION USDT, AND THIS WAS BEFORE THIS ANNOUNCEMENT.

WHAT NONSENSE IS THIS? pic.twitter.com/ot1Zy1A0cj

— astronomica (@0xastronomica) October 24, 2025

Another analyst, identified as @emmettgallic, pointed out that an address linked to the BTSE exchange had moved approximately $500 million in USDT, representing more than 60% of the total raised. According to him, "Stable campaign was published as active by Stable at 1:13 AM UTC, and the last deposit was at 1:14 AM UTC. On the other hand, the first deposit was at 0:48 AM UTC."

It's a public sale really a public sale if you don't tell anyone until its full.

The Stable campaign was posted as live by stable 1:13 UTC and the last deposit was 1:14 UTC.

On the other hand the first deposit was 00:48 UTC. lol

— Emmett Gallic (@emmettgallic) October 24, 2025

Stable, backed by Bitfinex and USDT0, is building a high-speed infrastructure for stablecoin payments and dApp integration. Following the completion of the first phase, the company confirmed that a second phase campaign will be launched, although a timeline has not yet been announced.

The rapid depletion of the round reinforces institutional interest in stablecoin projects and the potential of networks seeking to optimize the use of USDT in high-liquidity environments.