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I don’t normally talk price, but isn’t this buyback by the foundation a positive signal? After months of dumping by Polychain, that’s now going to stop. No more sell pressure.
Yet markets aren’t responding in the way we expect.
I’d love to hear others’ perspective on why. I’d love to hear from Celestia’s biggest critics @VannaCharmer @0xBalloonLover @mirza and more but I can’t think of their handles right now.
24.7. klo 23.31
The Celestia Foundation has worked with Polychain Capital to assign Polychain’s entire remaining TIA holdings to new investors.
This month, the Foundation purchased 43,451,616.09 TIA from Polychain Capital for $62.5m. Polychain will shortly be undelegating their entire staked TIA holdings in order to settle this transaction.
To ensure neutral impact to the Foundation’s financial position, the Foundation is finalizing assignment of this TIA to new investors. These transactions will use a rolling unlock schedule, with the first unlock starting on 16 August and completing on 14 November.
Note: I know Nick and Ekram but I don’t hold any $TIA. Not a bag holder and have never owned any $TIA.
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