Mustafa Al‑Bassam said a 95% token drawdown is common in crypto lifecycles

Quotes that support claims

Al-Bassam sidestepped the specifics regarding the accusations of financial mismanagement and premature sales. The Celestia executive explained that all tokens have a 95% drawdown at some point in their lifecycle.

Celestia co-founder Mustafa Al-Bassam pushed back on X, calling the general scrutiny "FUD," and stated that the project’s team remains intact. “All Celestia founders, early employees, and core engineers are still here,” he wrote. He added that 95% of drawdowns occur during the life cycle of most tokens and insisted that the project is well-funded to weather major downturns. “We have a $100 million war chest and a six-year runway, so we’re ready to play the long game,” Al-Bassam’s Sunday post reads.