Celestia founder dismisses FUD, cites $100M war chest amid backlash

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Another X user, Shrutebuck, criticized the timing of the unlocks. “They rewarded their early investors and themselves at the expense of retail, then they cry on the timeline about the ‘ridiculous FUD’ when the token is down 98%.”

“Despite the FUD (which is getting more ridiculous by the day), all Celestia founders, early employees and core engineers are still here and working as hard as we did when Celestia started 5 years ago,” Al-Bassam wrote in a Monday post on X.

Celestia co-founder Mustafa Al-Bassam claimed that the team remains committed and financially equipped to weather the storm despite escalating accusations of misconduct, insider profit-taking and community mistrust.