By Key Points
- MOVE price plummets 22% amid leadership turmoil
- Coinbase delisting and market maker scandal fuel decline
- Co-founder Rushi Manche suspended pending probe
- Future of Movement Labs faces growing uncertainty
The MOVE token has suffered a dramatic 22% price drop following the suspension of Movement Labs co-founder Rushi Manche. This sharp decline adds to the ongoing troubles facing the Movement ecosystem after Coinbase announced plans to delist the MOVE token.
The decision to suspend Manche comes amid a third-party investigation into serious misconduct by a market maker linked to Movement Labs. Reports suggest that the market maker, Web3Port, recently offloaded 66 million MOVE tokens, triggering a massive price crash and eroding investor confidence.
We confirm that Rushi Manche has been suspended from Movement Labs. This decision was made in light of ongoing events and as the third-party review is still being conducted by Groom Lake regarding organizational governance and recent incidents involving a market maker.
— Movement (@movementlabsxyz) May 2, 2025
Movement Labs confirmed Manche’s suspension, citing the need for governance reviews and ongoing inquiries by Groom Lake, an independent firm. Despite Manche publicly disputing earlier reports of his departure and asserting his active involvement, the latest action by Movement Labs reflects deepening concerns.
The MOVE token’s value has been battered by multiple factors. Binance previously penalized a Movement-associated market maker for violating trading rules, compounding the negative sentiment. Additionally, Movement Labs’ credibility has taken a significant hit with repeated delays in its anticipated MOVE airdrop (Movedrop), leaving investors frustrated and anxious.
Very much still at Movement. Missed company offsite because I was in Asia for Web3Festival.
Weird reporting from @Blockworks_ once again
— rushi (@rushimanche) April 15, 2025
Scandal widens, casting doubt on Movement’s future
The controversy extends beyond Manche. Sam Thapaliya, founder of Zebec Protocol and a known advisor to Movement Labs, has come under scrutiny for his past involvement in a $38 million token sell-off scandal related to the Rentech deal. While Thapaliya denies holding any formal role or decision-making power in Movement Labs, speculation about his behind-the-scenes influence persists.
How about Sam Thapaliya?
— Mike Dudas (@mdudas) May 2, 2025
Manche, meanwhile, has promised to clear his name and expose what he describes as “opportunistic administrators” acting without transparency within the Movement Foundation. In a recent post, he accused these individuals of brokering deals and managing finances without accountability, deviating from the original mission of Movement Labs.
The unfolding drama has raised urgent questions about Movement Labs’ internal controls and leadership integrity. The delay of the Movedrop, announced abruptly on its scheduled launch day, has only intensified dissatisfaction among the community. One frustrated user remarked, “Movedrop delayed again, what a clown show. MOVE is a real disappointment.”
been a brutal few weeks.
lots of rumors circulating and internal drama. im excited to start clearing stuff up, reveal the story, and clear my name, starting with this article.
honestly, mistakes were made. we trusted wrong advisors, mms, and folks going into a bear market. i…
— rushi (@rushimanche) April 30, 2025
As the Movement Network grapples with these cascading challenges, the MOVE token’s value has plunged further, currently trading at $0.20 — deepening the losses from the initial Coinbase delisting shock.
For comparison, similar leadership and ecosystem controversies have triggered dramatic market movements elsewhere, like the Alpaca market manipulation incident that led to a staggering 1,000% price surge warning.
Growing uncertainty shadows MOVE as Web3 sector faces headwinds
The Movement Labs turmoil reflects broader challenges facing Web3 and crypto projects where governance lapses and market maker misconduct often lead to severe price volatility.
Movedrop delayed again, what a clown show
the worst thing being announced the exact day it was supposed to happen
not professionnal, not respectful$MOVE is a real disapointment pic.twitter.com/HWTnEJjigM
— Monsieur P4n4che (@MonsieurP4n4ch2) May 1, 2025
Recent industry events highlight these trends. For instance, Sky Token’s upgrade aimed to rebuild trust after governance concerns, while MicroStrategy’s Q1 loss reignited debates about corporate crypto strategies. Meanwhile, Base’s impressive growth shows that projects with robust foundations can thrive despite market turbulence.
Movement (MOVE) Price Performance. Source: Techtoken
Investors in Movement Labs now face pressing questions: Can the project stabilize amid leadership upheaval? Will transparent governance return to reassure stakeholders? These uncertainties mirror challenges seen in both crypto and traditional markets, where trust is a decisive factor for long-term success, as evident in Strategy Stock’s recent surge driven by strong market confidence.
Manche has pledged to provide clarity in the coming days. However, whether this will calm the storm or further shake the fragile Movement Labs ecosystem remains to be seen.
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