Celestia has just announced the completion of a $100 million financing, and the institution is about to unlock it?
The Celestia Foundation previously announced on September 23 that it had successfully raised $100 million in funding, led by Bain Capital Crypto and with participation from Syncrace Capital, 1kx, Robot Ventures, Placeholder, and other institutions.
However, it seems that the Celestia Foundation has not fully disclosed the specific financing details. According to information disclosed by overseas KOL Sisyphus, this transaction is selling TIA tokens through over-the-counter (OTC) trading and was completed several months ago. The amount of these sales is expected to begin unlocking in October.
Wu Shuo Blockchain also reported today that the price of the TIA OTC token sale is $3, with one-third unlocked on October 31st and the remaining part linearly unlocked in the next year, which is quite close to Sisyphus' statement.
This transaction has sparked widespread criticism from the community, with many believing that Celestia's announcement not only failed to disclose the valuation and release plan of the token, but also waited until a month before the token was unlocked to release a fundraising press release, making the public believe that the fundraising was recent (institutions may have made impulsive purchases at around $10 TIA, rather than being optimistic about the current price range), thus ignoring the potential selling risk and leading to FOMO buying.
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