Celestia’s native token, TIA, surged over 11% on Tuesday, defying a storm of group criticism over insider gross sales, alleged early token unlocks, and inner controversy.
The rally follows a direct response from co-founder Mustafa Al-Bassam, who confirmed that Celestia has over $100 million in reserves, sufficient to fund operations for over six years.
Celestia Beneath Hearth over Unlock Timeline and Insider Gross sales Claims
Studies point out that co-founder Mustafa Al-Bassam offered over $25 million tokens through over-the-counter (OTC) deals.
“Mustafa frantically dumped $25 million OTC and fled to Dubai to put low Andy took cash to pump, suspected of calling buys on the peak to dump Yaz was kicked out straight as a consequence of sexual harassment, leaving the crypto scene Nick and Abril are enjoying their duet in Paris… So, actually, don’t discuss beliefs with initiatives; the script was written way back, and the pockets is king,” one X consumer claimed.
The information got here alongside studies of an unlock that offers the challenge’s government crew full entry to their token allocations. Crypto commentator AB Kuai alleged that prime executives totally unlocked and offered off their TIA final October. The analyst additionally claims that lower-level members unlocked TIA early by the top of that month.
Notably, some Celestia builders, together with Nick White, have denied these claims previously. However, Celestia reportedly paid a hefty sum to an English-speaking influencer to shill, alongside allegations that former Developer Relations Lead Yaz was dismissed as a consequence of sexual harassment.
Celestia’s Al-Bassam responded, and whereas he didn’t straight deny the allegations, he reasserted the crew’s resilience and long-term focus.
“Regardless of the FUD (which is getting extra ridiculous by the day), all Celestia founders, early staff and core engineers are nonetheless right here and dealing as laborious as we did when Celestia began 5 years in the past,” he wrote.
No Crying within the On line casino, Says Al-Bassam
Al-Bassam sidestepped the specifics concerning the accusations of monetary mismanagement and untimely gross sales. The Celestia government defined that every one tokens have a 95% drawdown in some unspecified time in the future of their lifecycle.
“I’ve been in crypto since 2010 and it’s not new to me that you need to have a thick pores and skin and eat gravel to outlive,” Al-Bassam defined.
The crypto government additionally revealed a warfare chest of greater than $100 million, alongside a 6+ 12 months runway, which, in his opinion, positions the community “to play the lengthy sport, for so long as it takes.”
His tone echoed earlier sentiments from Might, when he addressed the worry that many founders really feel throughout market downturns:
“Numerous founders tweeting much less nowadays as a result of worth is down and fearful of an indignant horde of token holders replying and so on. No crying within the on line casino applies to insiders too, so come ratio me all you need… I’m right here to eat shit as a masochist,” Al-Bassam said in Might.
Market Shrugs as TIA Worth Climbs Double Digits
Regardless of the controversy, TIA posted a double-digit achieve, suggesting that merchants are unfazed by the accusations or guess on Celestia’s long-term imaginative and prescient.
The confirmed $100 million treasury and prolonged runway have tempered quick fears, at the same time as questions on insider conduct and governance stay.

BeInCrypto knowledge reveals TIA is up by over 11% on this information, and was buying and selling for $1.56 as of this writing.
Nonetheless, investor scrutiny is unlikely to fade with the October unlock on the horizon. Will Celestia keep momentum? Possible not amid prevailing cautious sentiment in the market, especially for altcoins.
This rally might show a useless cat bounce, presenting as a brief restoration within the worth of a declining asset, adopted by a continuation of the downtrend. This assumption comes as investor sentiment is prone to hinge much less on warfare chests and extra on transparency.
“TIA, calculated from its peak, has at present dropped by 92%,” analysts at Foresight Information noted.
A latest proposal indicates the Celestia group plans to experiment with a Proof-of-Governance (PoG) mechanism. The proposal comes regardless of the allegations of traders with lockup stake-dumping, however some customers laud builders for his or her efforts.
A PoG mannequin is the place governance, not stake, selects validators. They proposed it because the logical terminus for liquid staking token (LST) evolution, redefining financial security in PoS (Proof-of-Stake) systems, eliminating pointless issuance whereas preserving validator incentives.
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