According to Foresight News, modular blockchain network Celestia has announced the establishment of the Celestia Foundation. The foundation is dedicated to funding the research and development of scalable decentralized systems and secure light nodes, providing financial support for open-source public products in the modular blockchain ecosystem, and encouraging open core development processes while supporting developers in building infrastructure and applications based on Celestia.

The Celestia Foundation is managed by a board of directors, initially consisting of four members: Dr. Mustafa Al-Bassam, co-founder and CEO of Celestia Labs; cryptocurrency entrepreneur and investor Batuhan; Ismail Khoffi, co-founder and CTO of Celestia Labs; and Reinhold Wohlwend, owner and managing director of Revalier.