On September 23, the Celestia Foundation announced that it successfully raised $100 million in funding led by Bain Capital Crypto, with participation from institutions such as Syncracy Capital, 1kx, Robot Ventures, and Placeholder. However, the Celestia Foundation seems to have not fully disclosed specific details about the funding. According to information revealed by overseas KOL Sisyphus, the transaction involved the sale of TIA tokens through over-the-counter (OTC) trading, which was completed several months ago, and these sold amounts are expected to begin unlocking in October.
Today, “Wu Says Blockchain” also reported that the price for the TIA OTC token sale was set at $3, with one-third unlocking on October 31, and the remaining portion unlocking linearly over the next year, which closely aligns with Sisyphus’s statements.
This transaction has sparked widespread criticism within the community, as many believe that Celestia’s announcement not only failed to disclose the token’s valuation and release plan but also issued the fundraising press release just one month before the token unlock, leading the public to think that the fundraising occurred recently (potentially causing institutions to impulsively purchase at over ten dollars per TIA rather than being optimistic about the current price range), thereby overlooking potential sell-off risks and subsequently FOMO buying.
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