May 7, 2025
Business
Movement Labs Terminates Co-Founder Rushi Manche Following Chaotic Week
Ethereum layer-2 startup Movement Labs has cut ties with co-founder Rushi Manche, capping a turbulent week of governance scandals, market maker fallout, and mounting community pressure. “Movement Labs has terminated Rushi Manche. Movement will continue under different leadership,” the team posted early Wednesday on X. Within minutes, the platform announced the launch of Move Industries, a new company rising from the wreckage of the project. The new team described the shift as a return to “crypt...
May 2, 2025
News
Movement Labs Suspends Co-Founder Amid Market Maker Controversy
Movement Labs, one of the most closely watched Ethereum layer-2 startups of the past year, is in freefall. On Thursday, the company announced it had suspended co-founder Rushi Manche as it grapples with the fallout from a controversial token arrangement that saw 66 million MOVE tokens dumped on the open market, sparking internal and public backlash. “This decision was made in light of ongoing events and as the third-party review is still being conducted by Groom Lake regarding organizational gov...
May 1, 2025
Markets
Movement Plunges to All-Time Low After Coinbase Says It Will Delist Ethereum L2 Token
MOVE, the native token of Ethereum layer-2 network Movement, crashed to an all-time low price on Thursday after major cryptocurrency exchange Coinbase said that it will suspend trading for the token this month. “We regularly monitor the assets on our exchange to ensure they meet our listing standards. Based on recent reviews, we will suspend trading for Movement (MOVE) on May 15, 2025, on or around 2 PM ET,” the exchange said on X, formerly Twitter. MOVE is down nearly 14% on the day to a price...
Mar 10, 2025
Law and Order
Rex Shares, Osprey Seek Movement ETF Approval as Ethereum Layer-2 Mainnet Launches
Fund issuers Rex Shares and Osprey Funds have submitted an application for an exchange-traded fund tracking the price of MOVE, according to a filing Monday with the Securities and Exchange Commission. The Rex-Osprey MOVE ETF would be the first focused on the native token of the Movement Network, an Ethereum layer-2 scaling network. "Breaking the pattern of ETFs limited to long-established cryptocurrencies opens doors for institutional capital to support next-generation blockchain innovation," Mo...
Jan 28, 2025
Markets
MOVE Spikes on Trump-Linked DeFi Project Buy as Musk DOGE Rumors Swirl
The price of MOVE spiked Tuesday to $0.89, notching notable gains after World Liberty Financial—a DeFi platform affiliated with President Donald Trump and members of his family—purchased $1.9 million worth of the utility token for the Ethereum layer-2 network Movement. Despite retracing slightly, the token is up 7% on the day to $0.77, CoinGecko data shows. That was enough for MOVE to lead the crypto market among the top 100 tokens tracked by CoinGecko, outpacing XDC Network’s (XDC) 7% climb. Th...
Dec 9, 2024
Coins
Ethereum Layer-2 Network Movement Launches MOVE Token With $830 Million Airdrop
The Movement Network Foundation launched MOVE—the utility token of the Ethereum layer-2 network Movement—on Monday, offering up more than $830 million worth of MOVE tokens to early users to claim, based on peak value. Dubbed the “MoveDrop,” the airdrop provided 1 billion MOVE, or 10% of the total token supply to eligible communities and participants that had completed transactions and quests on the Movement testnet. An additional 1.25 billion tokens or 12.5% was also unlocked for the Movement N...