On June 24, Twitter user 0xCircusLover leaked that "Celestia's executive team will unlock all tokens in October 2024, and additionally, Celestia founder Mustafa Al-Bassam sold TIA tokens worth over $25 million through OTC and moved to Dubai." In response, Mustafa today wrote that "I have been involved in the cryptocurrency field since 2010 and deeply understand that survival in this industry requires an indomitable spirit and the ability to withstand various challenges, because all tokens will experience a 95% drop at some stage of their lifecycle. We have over $100 million in cash reserves, with cash flow that can support operations for more than 6 years, so we are prepared to fight a long battle, no matter how long it takes."
Celestia founder responds to questions about selling coins: The team now has over $100 million in cash reserves, and cash flow can support over 6 years of operations
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