Movement Labs Suspends Co-Founder Amid Token Controversy

Movement Labs has suspended co-founder Rushi Manche following a controversial token incident involving 66 million MOVE tokens being dumped on the open market. The decision comes as the company faces backlash over a market-making deal with Rentech, a shell company linked to Web3Port, which misrepresented its role. A third-party review by Groom Lake is underway to investigate the company’s governance and the events surrounding the token dump, which sparked both internal and public outrage.