You Won’t Believe Why This Crypto Co-Founder Got Suspended—A Tale of Greed and Tokens!

by

What to know:

  • Movement Labs, once ablaze with hope and code, now smolders—co-founder Rushi Manche suspended, pending “investigations.” Ah, glorious modern governance: “We’ll get back to you after the chaos is sorted.”
  • Coinbase, the mighty digital bazaar, slammed its doors on the MOVE token after whispers and CoinDesk’s bold ink told of a shadowy market maker tossing tokens into the wind like confetti at a czar’s funeral. 🪙🎉
  • The MOVE token, poor soul, fell over 20%—and all after Binance had already exiled the notorious market juggler, Web3Port, from its club. The crypto peasants, of course, found themselves clutching worthless paper. Again. 🧻📉

Movement Labs, in a flash of digital drama, announced to the unblinking void of X that it had suspended Rushi Manche, co-founder and (perhaps) accidental scapegoat.

Why the sudden ousting? Picture it: CoinDesk, shining torch in hand, reports a market maker tied to the infamous Web3Port somehow acquired—and dumped—a bounty worth more than 5% of MOVE’s supply. The price tumbled, and with it, the dreams of speculators already living under borrowed sky. The review? Still “ongoing,” which, in business, often means the investigators are still sobbing over their spreadsheets. 😂

Rushi Manche—gone! Suspended from Movement Labs, pending the ponderous “third-party review” by Groom Lake. Organizational governance? Recent incidents? Let’s just say the boardroom probably resembled a Dostoevskian dinner party.

— Movement (@movementlabsxyz) May 2, 2025

Not to be left out of the circus, Binance had already tossed Web3Port onto the trash heap of banned entities. For the MOVE token? About 20% lower, still falling, like rubles after a bad harvest. Such is the fate of digital dreams crossing swords with reality. 🪙🚀➡️🥀

Read More

2025-05-02 07:17