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Celestia co-founder responds to FUD: has over $100 million in reserves, enough to operate for more than 6 years.
According to a TechFlow report on June 24, Celestia co-founder Mustafa Al-Bassam revealed in a tweet that despite the increasing FUD (fear, uncertainty and doubt) targeting Celestia in the market, all founders, early employees, and core engineers are still holding their positions and maintaining the same work enthusiasm as at the project's launch. Al-Bassam stated that Celestia currently has over $100 million in reserves and more than 6 years of operational funding, and the team is prepared for long-term development. He also mentioned that he has been involved in the crypto assets field since 2010 and understands that all tokens experience about a 95% drawdown in their lifecycle, so he is not surprised by the current market fluctuations.