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The Celestia Foundation has purchased the remaining TIA held by Polychain for $62.5 million, to be transferred to new investors.
BlockBeats News, July 24th, Celestia tweeted that "The Celestia Foundation is cooperating with Polychain Capital to transfer all remaining TIA tokens held by Polychain to new investors."
This month, the foundation purchased 43,451,616.09 TIA tokens from Polychain Capital for $62.5 million. To complete this transaction, Polychain will soon unstake its entire TIA holdings.
To ensure the foundation's financial stability, it is finalizing the distribution of TIA to the new investors. These transactions will follow a staggered unlocking mechanism, with the initial unlocking starting on August 16th and concluding on November 14th."
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