“IT HAS YET TO NAME A REPLACOMENT OR OUTLINE NEXT STEPS FOR GOVERNANCE REASTRUCTURE.”, – WRITE: www.coindesk.com
Movement Labs Co-Funder Rushi Manche (Danny Nelson/Coindesk)
- MOVEMENT LABS HAS SEVERED TIES WITH CO-FOUNDER RUSHI Manche Following undisclosed Move Token Deals.
- The Decision Was Made Public After a Coindesk Report Exposed Secret Agreements and Hidden Advisors Linked to the Project.
- MOVE TOKEN PRICES HAVE DROPED SIGNFICANTLY, WITH AN 8.5% DECLINE IN THE PAST 24 HOURS Following Manche’s Termination.
The AnnounCement Came of the Company ‘X Account Early Tuesday, Stating That “Movement Labs Has Terminated Rushi Manche’s Employment and All Affiliations With.
IT HAS YET TO NAME A REPLACOMENT OR OUTLINE NEXT STEPS FOR GOVERNANCE REASTRUCTURE.
Movement Labs Has Terminated Rushi Manche. Movement Will Continue Under Different Leadership.Details on Leadership Changes and A Revamped Governance Structure Will Be Coming Soon.
– Movement (@MovementLabsxyz) May 7, 2025
The Decision Follows A Coindesk Report FIRST REVELED SECRET AGREEMENTS BETWEEN MOVEMENT-LINKED ENTITIES AND Market Makers Durying the Project’s Token Launch.
Coindesk Reported the existence of Shadow Advisors, Hidden Payment Flows, and UndisClosed Token Allocations Surrounding Move’s Debut. Manche was Directly Tied to Those Arrangements, accounting to international documents and investor Correspondence reviewed by Coindesk.
Manche was initially Suspended on May 2, Shortly After Coinbase Delisted the Move Token. The Delisting Followed Mounting Community Pressure on How The Company Operates Begind-The-Scenes and Project Governance.
MOVE PRICES ARE DOWN 8.5% in the Past 24 Hours, A Bulk of the Slide Coming After Manche’s Termination. The Token is Down 35% in the Past Week.
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