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crypto.news 2025-01-29 09:03:38

MOVE price jumps 16% on reports of Musk exploring Movement blockchain for transparency

MOVE price jumps 16% on reports of Musk exploring Movement blockchain for transparency

MOVE token jumped 16% Wednesday amid rumors that Elon Musk is considering the Movement blockchain for his government transparency initiative. Movement’s ( MOVE ) token gained 16% on Jan. 29 as reports surfaced that Elon Musk ‘s Department of Government Efficiency team is evaluating the blockchain for his transparency efforts . In an X post on Jan. 28, Walter Bloomberg, citing a source familiar with the matter, reported that “Movement among firms discussing blockchain use with Musk’s DOGE team.” *MOVEMENT AMONG FIRMS DISCUSSING BLOCKCHAIN USE WITH MUSK'S DOGE TEAM: SOURCE *BLOOMBERG REPORTED MUSK'S DOGE EVALUATING BLOCKCHAIN TECH FOR GOVT EFFICIENCY EFFORT — *Walter Bloomberg (@DeItaone) January 28, 2025 At the same time, on-chain analysts spotted a big purchase from World Liberty Financial, a crypto project linked to President Donald Trump . The firm bought about $2 million worth of MOVE tokens, pushing the price from $0.71 to over $0.88 before settling around $0.80. The purchase quickly sparked concerns over insider trading. You might also like: Elon Musk’s X to partner Visa for X Money payments Oof, this is NOT a good look WLFI multisig buys MOVE and then 10 minutes later the press reports the Movement talking to Musk story Insane crime pic.twitter.com/VZpla6WoOE — Eric Conner (@econoar) January 28, 2025 Amid those accusations, Movement Labs co-founder Rushi Manche said the team isn’t directly working with World Liberty Financial, telling crypto media that Movement is “not in direct communication with the Trump-backed DeFi project.” He also denied collaboration with Musk’s DOGE team, saying, “I don’t think we are in touch as far as I understand.” Meanwhile, Movement Labs has been busy launching a developer mainnet to bring Facebook’s Move Virtual Machine — also known as MoveVM — to Ethereum. The launch is a key step toward the public mainnet beta, expected in February. Read more: Movement Labs eyes $100m funding round at $3b valuation

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