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Movement Labs Cuts Ties with Rushi Manche After Coinbase Delisting and Token-Dump Drama

Movement Labs Cuts Ties with Rushi Manche After Coinbase Delisting and Token-Dump Drama

Author:
CoindeskEN
Published:
2025-05-02 03:16:47
21
3

Movement Labs Suspends Rushi Manche Amid Coinbase Delisting, Token-Dumping Scandal

Movement Labs drops the hammer—co-founder Rushi Manche exits amid allegations of token dumping and exchange fallout. Coinbase boots the project, traders left holding bags. Another day, another crypto founder failing the ’don’t be evil’ test.

Behind the scenes: Internal chaos erupts as Manche’s alleged offloading triggers a liquidity crisis. The move reeks of the same old playbook—founders cashing out before the music stops.

Market fallout: The token tanks 40% post-delisting. Retail investors scream foul while the usual VC backers mysteriously dodged the bullet. But hey, that’s crypto governance for you—decentralized until it’s time to pay the piper.

|Square

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