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coinpedia 2025-05-02 07:18:10

Movement Labs Suspends Co-Founder Amid Token Controversy

The post Movement Labs Suspends Co-Founder Amid Token Controversy appeared first on Coinpedia Fintech News 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.

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