Newton Gitonga
The global crypto market cap increased by 4.50% in the past 24 hours to $3.25 trillion as Trump’s cease-fire deal cooled the Middle East tensions.
While most altcoins saw double-digit gains, TIA grabbed attention as Celestia’s founder defended the project amid rising FUD and a $25 million token selloff.
TIA gained more than 17% to an intraday high of $1.63, defying massive criticism and increasing speculations around token unlocks.
Founder Mustafa Al-Bassam took it to X to address the lingering concerns about Celestia’s long-term stability, community criticism, and token sales.
Despite the FUD (which is getting more ridiculous by the day), all Celestia founders, early employees and core engineers are still here and working as hard as we did when Celestia started 5 years ago.
So say that Celestia did 9/11 for all I care or whatever FUD you want, I’ve
The community has attacked Celestia’s leadership, especially after Mustafa allegedly offloaded over $25 million worth of TIA via over-the-counter (OTC) before relocating to Dubai.
Rather than retreating, Mustafa has doubled down, defending his TIA sales and emphasizing the project’s long-term goals.
$100M reserve and six-year runway
Numbers don’t lie. Right? Celestia’s founder published hard figures to guarantee the community.
He revealed that the blockchain has more than $100 million in reserves.
That gives it the financial muscles to fund operations for over six years without requiring new capital.
The revelation comes at a key moment when Celestia experienced deteriorated sentiments as investors and experts questioned token unlocks.
Crypto reporter AB Kuai alleged that top TIA executives unlocked and dumped their assets in October 2024.
Also, X user Mosi highlighted that the Celestia team offloads tokens without ever buying, yet the community anticipates bullish price actions and project growth.
Meanwhile, Mustafa has cleared the air, stating:
Despite the FUC (which is getting more ridiculous by the day), all Celestia founders, early employees, and core engineers are still here and working as hard as we did when Celestia started 5 years ago.
Token sales, Duba relocation, and 9/11 accusations
While crypto projects often face online drama, Celestia’s latest FUD has hit another level.
Critics allege that the team has abandoned the project after dumping TIA tokens.
One X user even accused the project of conducting a “9/11” move.
However, the founder’s message confirmed there’s no crying in the casino.
Mustafa said:
So say that Celestia did 9/11 for all I care or whatever FUD you want. I’ve been in crypto since 2010, and it’s not new to me that you have to have a thick skin and eat gravel to survive, as all tokens have their 95% drawdown at some point in their lifecycle.
TIA price outlook
The alt trades at $1.59 after a slight retracement from daily peaks.
TIA trades 13% up on its daily chart, with an increasing trading volume signaling revived trader activity.
However, TIA investors are experiencing significant losses as the alt has plummeted by 75% in the past twelve months.
The post Celestia’s TIA rallies 17% as founder confirms $100M reserve, six-year runaway appeared first on Invezz
