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.