Movement Labs' former co-founder launches crypto investment plan

ChainCatcher news, Rushi Manche, co-founder of MOVE Labs, announced today the establishment of Nyx Group, planning to invest up to $100 million to support cryptocurrency token projects. The investment plan will provide liquidity and comprehensive operational support for projects preparing for token launches, including community building, financial management, and compliance guidance. Manche stated that Nyx Group aims to fill the current “critical gap” in the crypto market, especially in a market environment where founders face difficulties in capital raising. The team will adopt strict investment standards, supporting only founders with whom they have deep trust, and decisions will be made by an investment committee. Notably, Manche was previously terminated from Movement Labs due to a dispute over a market-making arrangement involving 66 million MOVE tokens. Regarding new projects, he emphasized that Nyx Group will become a “very friendly founder partner,” offering favorable conditions and supporting long-term visions.