Celestia founder defends team against dumping allegations, reassuring community of financial stability
From Cointelegraph
June 24, 2025 4:01 am:
Celestia co-founder Mustafa Al-Bassam addresses accusations of misconduct and insider profit-taking, reassuring the community of the team’s commitment and financial stability. Critics claim the team offloaded tokens while retail investors suffered. Al-Bassam defends Celestia’s viability, citing a large war chest and long runway. The TIA token is currently trading at $1.61, down 92% from its all-time high.
Al-Bassam responds to allegations of financial misconduct on X, dismissing FUD. Critics accuse the Celestia team of offloading tokens and paying for promotion. Users question the token unlock schedule and criticize the team’s actions. Bankless founder David Hoffman has been promoting Celestia. The TIA token is down more than 92% from its peak.
Critics question Celestia’s market strategy, citing poor timing and lack of user base. Investor Larry Sukernik describes Celestia as a cautionary tale of brute-forcing market traction. Al-Bassam defends the project, highlighting its role in blockchain scaling. Despite market share, economic traction remains uncertain for Celestia. TIA token trading at $1.61, down 92% from all-time high.
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