Movement Labs Clarifies Coinbase Deposit: Institutional Loan or Token Sale?

Blockchain firm Movement Labs recently deposited a significant $7.74 million in MOVE tokens into Coinbase, raising questions about its purpose. Co-founder Rushi Manche addressed speculation about this move on social media, clarifying it was not a sale or transfer, but rather part of a strategic plan for an upcoming institutional product and associated loan. This revelation offers insights into how crypto projects are utilizing financial tools like loans to facilitate complex strategies within the industry.