Movement Labs Co-Founder Rushi Manche Suspended Amid Market Review, Triggering Token Price Drop

Movement Labs has suspended co-founder Rushi Manche, triggering immediate market volatility for the MOVE token following investigations into governance and market activities. 20% price drops have been reported, with exchanges like Coinbase halting trading activity in response to these events. The company’s statement on May 2th outlines the ongoing investigation by Groom Lake into governance structures and market interactions, leading to immediate consequences such as a 20% decline in MOVE token value.