Celestia founder Mustafa Al-Bassam commented on recent allegations of financial misconduct and token leakage, stating the team continues to work despite criticism.
Allegations of Financial Misconduct
In his post, Al-Bassam confirmed that the Celestia team is financially stable and ready to face criticism surrounding allegations of token sell-offs. "Despite the FUD (Fear, Uncertainty, Doubt), all Celestia founders, early employees, and core engineers are still here and working as hard as we did when Celestia started five years ago," he stated.
Celestia Under Heightened Market Scrutiny
Discontent from token holders and independent researchers has pressured the company's reputation. Some accused the team of offloading large amounts of TIA tokens as prices plunged by 95%. Criticism continues, particularly regarding the company's token unlock schedule, which raises questions about the care for retail investors.
Long-term Prospects for Celestia
Al-Bassam claims that there is over $100 million in reserve and a six-year runway. Despite the current situation, he believes Celestia has potential for ongoing operation, citing the number of rollups deployed and its share of the data availability market. However, critics point to risks of premature expansion while the market is still developing.
While the Celestia founder expresses confidence in the project's success, increasing criticism and concerns from the community cast doubt on the long-term viability of the TIA token and the team's strategies.
