{"id":463721,"date":"2024-09-27T14:00:54","date_gmt":"2024-09-27T14:00:54","guid":{"rendered":"https:\/\/www.crypto-news-flash.com\/?p=863237"},"modified":"2024-09-27T14:00:54","modified_gmt":"2024-09-27T14:00:54","slug":"celestia-faces-backlash-after-unclear-otc-sales-spark-debate","status":"publish","type":"post","link":"https:\/\/e-bitco.in\/index.php\/2024\/09\/27\/celestia-faces-backlash-after-unclear-otc-sales-spark-debate\/","title":{"rendered":"Celestia Faces Backlash After Unclear OTC Sales Spark Debate"},"content":{"rendered":"<div><img decoding=\"async\" src=\"https:\/\/www.crypto-news-flash.com\/wp-content\/uploads\/2024\/07\/Celestia-TIA.png\" class=\"ff-og-image-inserted\"><\/div>\n<ul>\n<li><strong>Celestia community is upset over undisclosed OTC token sales, raising concerns about transparency.<\/strong><\/li>\n<li><strong>Celestia\u2019s Lemongrass upgrade introduces 1-click Tia interactions and Interchain accounts, enhancing the network\u2019s capabilities.<\/strong><\/li>\n<\/ul>\n<hr>\n<p>Latest reports indicate that the Celestia community is disappointed with the Celestia Foundation\u2019s latest over-the-counter (OTC) token sales.<\/p>\n<p>Critics in the community claim that these transactions were disguised as favorable news regarding funding, misleading regular investors into acquiring, while internal team members and venture capital (VC) investors chose to sell.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">It was really easy to make things right for Celestia with this raise. All they had to do was:<\/p>\n<p>&gt;Disclose the valuation and the vesting<\/p>\n<p>&gt;Disclose that it was an OTC (if it actually was) and not a fundraising; the team just sold some tokens (or the fundation, whatever it really\u2026 <a href=\"https:\/\/t.co\/ehftFLbeJM\">pic.twitter.com\/ehftFLbeJM<\/a><\/p>\n<p>\u2014 Ericonomic (@ericonomic) <a href=\"https:\/\/twitter.com\/ericonomic\/status\/1838850361659994492?ref_src=twsrc%5Etfw\">September 25, 2024<\/a><\/p>\n<\/blockquote>\n<h2><strong>Debate Over Celestia Transparency and Funding Rounds&nbsp;<\/strong><\/h2>\n<p>The biggest criticism is a lack of transparency, as the <span><a href=\"https:\/\/www.crypto-news-flash.com\/celestia-token-unlock-what-it-means-for-future-market-stability\/\">Celestia<\/a><\/span> team failed to disclose that the transaction was an OTC sale rather than a true investment round.<\/p>\n<p>This disclosure has created a debate over whether the foundation and its team should be more forthcoming about the valuation and specifics of such deals, ensuring that all stakeholders have a clear picture of the project\u2019s financial activities.<\/p>\n<p>This announcement comes shortly after Bain Capital Crypto led Celestia\u2019s most recent fundraising round, which raised $100 million.<\/p>\n<p>According to <span><a href=\"https:\/\/www.crypto-news-flash.com\/celestia-secures-100m-pioneers-modular-blockchain-with-mainnet-beta\/\">CNF<\/a><\/span>, the large infusion of funds has boosted the Celestia Foundation\u2019s overall funding to an astonishing $155 million, signifying a considerable increase in financial support for the project. This has been interpreted as a sign of rising trust and interest in Celestia\u2019s vision and technological advances.<\/p>\n<p>On the other hand, as CNF <span><a href=\"https:\/\/www.crypto-news-flash.com\/celestia-unveils-lemongrass-upgrade-major-features-and-timeline-ahead\/\">reported<\/a><\/span> in August, Celestia announced its first significant upgrade, \u201cLemongrass,\u201d which aims to bring a slew of new features and advancements to the network. The Lemongrass upgrade introduces 1-click Tia interactions, Interchain accounts, and a new upgrading method.<\/p>\n<p>These additions are expected to considerably improve the general usefulness and interoperability of the Celestia network, hence contributing to its developing ecosystem.<\/p>\n<p>Meanwhile, Celestia\u2019s native token, TIA, is now trading at <strong>$6.37<\/strong>, up <span><strong>9.22%<\/strong><\/span> over the last seven days. The latest price jump has increased its market cap to be more than $1.3 billion.<\/p>\n<div class=\"tve-leads-shortcode tve-leads-triggered tve-tl-anim tl-anim-instant tve-leads-track-shortcode_228374\">\n<div class=\"tl-style\" id=\"tve_tcb2_set-001\" data-state=\"50\" data-form-state>\n<div class=\"tve-leads-conversion-object\" data-tl-type=\"shortcode_228374\">\n<div class=\"tve_flt\">\n<div id=\"tve_editor\" class=\"tve_shortcode_editor\">\n<div class=\"thrv-leads-form-box tve_no_drag tve_no_icons thrv_wrapper tve_editor_main_content thrv-leads-in-content tve_empty_dropzone\" data-css=\"tve-u-185a09262cb\">\n<div class=\"thrv_wrapper thrv_text_element\">\n<p data-css=\"tve-u-185a09262d4\"><span data-css=\"tve-u-185a09262d5\">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; No spam, no lies, only insights. You can unsubscribe at any time.<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><a href=\"https:\/\/www.crypto-news-flash.com\/\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Celestia community is upset over undisclosed OTC token sales, raising concerns about transparency. Celestia\u2019s Lemongrass upgrade introduces 1-click Tia interactions and Interchain accounts, enhancing the network\u2019s capabilities. Latest reports indicate that the Celestia community is disappointed with the Celestia Foundation\u2019s latest over-the-counter (OTC) token sales. Critics in the community claim that these transactions were disguised [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":463722,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[13888,25,4801,14461],"class_list":{"0":"post-463721","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-other","8":"tag-celestia","9":"tag-news","10":"tag-otc","11":"tag-tia"},"_links":{"self":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts\/463721","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/comments?post=463721"}],"version-history":[{"count":0,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts\/463721\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/media\/463722"}],"wp:attachment":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/media?parent=463721"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/categories?post=463721"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/tags?post=463721"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}