Movement Labs Ousts Co-Founder as Token Drama Erupts

Another day, another crypto founder ’taking time to focus on family’—right after the token tanks. Movement Labs just suspended its co-founder amid swirling controversy over token allocations, proving once again that decentralization has a funny way of centralizing power (and blame).

The move comes as traders sniff out potential insider maneuvers—because nothing says ’trustless’ like a founder’s sudden exit during price volatility. The project insists it’s ’business as usual,’ which in crypto usually means ’damage control.’

Meanwhile, the token’s bleeding—but hey, at least the VCs got their unlock. Priorities.

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.