Mustafa Al-Bassam, the founder of Celestia, proposed to quadruple DA fees in the short term.

Celestia Founder Mustafa Al-Bassam Reflects on Hacking Past and LulzSec Involvement

Yesterday, Twitter user @0xCircusLover revealed that "the Celestia executive team unlocked all tokens in October 2024. In addition, Celestia founder Mustafa Al-Bassam sold over $25.00 million USD worth of TIA via OTC and moved to Dubai." In response, @musalbas posted an article stating, "I have been involved in the cryptocurrency field since 2010.... All tokens experience a 95% drop at some point in their lifecycle. We have over $100.00 million USD in cash reserves, and our cash flow can support more than 6 years of operation, so we are prepared for a long-term battle, no matter how long it takes."

Celestia Co-founder: Has over $100 million in funding reserves, enough to support operations for more than 6 years Celestia co-founder Mustafa Al-Bassam posted an article stating that despite the current FUD, all Celestia founders, early employees, and core engineers are sticking to their posts, working with the same enthusiasm as when the project was founded five years ago. He stated bluntly that even if someone spreads absurd FUD that Celestia was the mastermind behind the 9-11 attacks, he wouldn't care. Mustafa said that he has been involved in the crypto space since 2010 and knows that survival in the industry requires a strong heart and the ability to withstand pressure, after all, all tokens will experience a 95% drop in their life cycle. Mustafa emphasized: "We have over $100 million in funding reserves, enough to support operations for more than 6 years, and are ready to fight a long-term battle."

Celestia co-founder cites $100 million war chest and six-year runway to ‘play the long game’ as native token drops over 90% from peak

Celestia Founder Supports Proposal to Reduce $TIA Inflation Rate by 33%In response to ENS developer @DeanEigenmann's suggestion to reduce the $TIA inflation rate by 33%, Celestia founder Mustafa Al-Bassam (@musalbas) expressed his support.He stated that when the team initially decided on the $TIA inflation rate, they were replicating a simple model from Solana because they did not want to adopt Cosmos's 10% permanent inflation rate.Currently, the community consensus is that the inflation rate is still too high, and Solana is also proposing to lower its inflation curve. Therefore, @musalbas believes it is the right time to adjust the $TIA inflation rate.Moreover, he considers a 33% reduction in the inflation rate to be reasonable, significantly accelerating the decline of the inflation curve without impacting the security of the crypto economy.

The Celestia community has proposed to reduce the inflation rate by 33%, with the support of the founders.

In response to community concerns raised by low income, Lianchuang stated that its long-term goal is economies of scale.

SoSo Daily Oct 18 | The European Central Bank has once again cut interest rates by 25 basis points, in line with expectations.

Solana Optimistic Network announces the completion of a new round of financing.

Solana Optimistic Network completes a new round of financing.

Solana Optimistic Network has completed the "cobuilder" round of financing, aiming to build the highest throughput rollup technology stack.

Solana Optimistic Network completes a new round of financing, with Lily Liu, Chair of the Solana Foundation, among the investors.

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The Eclipse mainnet has been launched on Celestia.

Celestia founder promises not to pay KOLs to promote tokens

CELESTIA has completed a seed round of financing of $1.5 million, with the lead investor being a university student.