This Altcoin Foundation Purchased All of a Company’s Coins and Will Resell Them

The Celestia Foundation announced that it has reached an agreement with Polychain Capital, a prominent blockchain investor, to purchase over 43.4 million TIAs. The agreement includes a payment of $62.5 million for a total of 43,451,616.09 TIAs.

According to the statement, the TIAs in question will be transferred to new investors in a phased process of unlocking between August 16 and November 14. The goal is to manage the process with a neutral impact on the Celestia Foundation's financial balance.

Polychain Capital is known to have previously invested approximately $20 million in the Celestia project. The company will transfer all of its $TIA holdings as part of this latest sale, and the unstaking of staked coins will be completed shortly.

The statement made by the Celestia Foundation included the following statements:

This month, we acquired 43.4 million $TIA from Polychain Capital for $62.5 million. Polychain will unstake all staked $TIA assets to complete this transaction. The Foundation is rolling out these tokens to new investors on a staggered unlock schedule, starting on August 16th and ending on November 14th.

*This is not investment advice.