Audit log

Every state-changing event for Rushi Manche: moderation decisions on community submissions, plus corrections and updates from the news pipeline. URL-based decisions are designed to carry three independent witnesses — the original source, an Internet Archive snapshot, and a Solana memo signed by our publicly-disclosed publisher key. Archive coverage is still being backfilled, so each decision below reports its own snapshot status rather than assuming one exists.

1. #1publishby system:backfill

   2026-08-13 23:13:48Z
   Score: ? → ? (no score change)
   anchorpending

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   {"actor":"system:backfill","investigation_id":"831aab63-01a5-4575-af55-b24526300f1c","kind":"publish","page_slug":"rushi-manche","published_at":"2026-08-13T23:13:48.686Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Rushi Manche","sections":[{"content":"Rushikesh 'Rushi' Manche co-founded Movement Labs (incorporated as MVMT Labs, Inc.) in November 2022 alongside Cooper Scanlon, both Vanderbilt University dropouts with backgrounds in computer science. Before Movement Labs, Manche had worked briefly as a software engineer at Aptos Projects developing Move-language smart contracts. Movement Labs sought to extend the Move programming language — originally developed for Meta's Diem project — to Ethereum and other ecosystems to improve smart contract security. The company raised at a reported $3 billion valuation and launched its MOVE token on major exchanges on December 9, 2024. Manche served as the company's chief executive and was described in industry coverage prior to the scandal as a rising figure in the DeFi space.","heading":"Background and Role at Movement Labs","severity":"low","sources":[{"credibility":1,"name":"Most Influential: Rushi Manche — CoinDesk","type":"news_article","url":"https://www.coindesk.com/tech/2025/12/10/most-influential-rushi-manche"},{"credibility":3,"name":"All You Need To Know About Rushi Manche, The Co-Founder of Movement Labs — UseTheBitcoin","type":"other","url":"https://usethebitcoin.com/crypto-personalities/all-you-need-to-know-about-rushi-manche-the-co-founder-of-movement-labs/"},{"credibility":2,"name":"Movement Labs collapses into bankruptcy after MOVE token scandals — Crypto.news","type":"news_article","url":"https://crypto.news/movement-labs-collapses-into-bankruptcy-token-scandals/"}]},{"content":"According to reporting by CoinDesk and internal documents reviewed as part of the investigation, the MOVE token launch was preceded by a market-making arrangement with significant governance concerns. On November 25, 2024, market maker Web3Port signed an agreement with an obscure intermediary called Rentech, which purported to act as a Movement Foundation agent. On November 27, Rentech proposed an initial market-making agreement to Movement, and on December 8, 2024 — one day before the token launch — the Movement Foundation signed a revised agreement with Web3Port through Rentech. CoinDesk's April 2025 investigation found that Rentech appeared 'on both sides of a deal,' acting simultaneously as an affiliate of Web3Port and as an agent of the Movement Foundation — a dual role that raised significant conflict-of-interest concerns. Movement Foundation general counsel YK Pek reportedly labeled the arrangement 'possibly the worst agreement' he had reviewed. The contract contained a liquidation clause that allowed profit-sharing if MOVE reached a $5 billion fully diluted valuation, allegedly creating an incentive to inflate and then dump the price. Manche is alleged, according to sources cited in the CoinDesk investigation, to have forwarded the Rentech market-making contract to the Movement Foundation on March 28 and to have promoted it internally. On December 9, 2024, the MOVE token debuted on exchanges. On December 10, approximately 66 million MOVE tokens — roughly 5% of total supply — were sold into the market, creating an estimated $38 million in downward price pressure. Binance subsequently banned the market-making account for what it described as misconduct and froze associated funds. These are the allegations as reported; no adjudication of wrongdoing against Manche personally has been reached as of this page's publication.","heading":"The Rentech/Web3Port Market-Making Arrangement","severity":"critical","sources":[{"credibility":1,"name":"Inside Movement's Token-Dump Scandal: Secret Contracts, Shadow Advisers and Hidden Middlemen — CoinDesk","type":"news_article","url":"https://www.coindesk.com/tech/2025/04/30/inside-movement-s-token-dump-scandal-secret-contracts-shadow-advisors-and-hidden-middlemen"},{"credibility":2,"name":"Binance Cracks Down on Market Manipulation, Bans Movement (MOVE) Project Market Maker — CryptoNinjas","type":"news_article","url":"https://www.cryptoninjas.net/news/binance-cracks-down-on-market-manipulation-bans-movement-move-project-market-maker/"},{"credibility":2,"name":"Movement Labs Bankruptcy: How Was a Contract That Everyone Knew Was Toxic Signed? — PANews English","type":"news_article","url":"https://panews.io/articles/019f890a-bd08-76c8-99f1-1f883da7705e"}]},{"content":"On May 2, 2025, Movement Labs publicly confirmed that Manche had been suspended pending the outcome of a third-party governance review conducted by private intelligence firm Groom Lake. Movement posted on X (formerly Twitter) that the 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.' Groom Lake's founder, operating under the pseudonym FDR, declined to disclose specific investigation findings publicly. On May 7, 2025, Movement Labs announced Manche's formal termination, stating that 'Movement Labs has terminated Rushi Manche. Movement will continue under different leadership.' Concurrently, Movement Labs launched a successor entity, Move Industries, with Torab Torabi as CEO and Will Gaines as President and CMO. Specific findings of the Groom Lake investigation have not been made public. The termination constitutes an employment action by the company; it is not equivalent to a legal or regulatory finding of wrongdoing.","heading":"Suspension, Groom Lake Investigation, and Termination","severity":"high","sources":[{"credibility":2,"name":"Movement on X confirming suspension of Rushi Manche — X (Twitter)","type":"social_media","url":"https://x.com/movementlabsxyz/status/1918134801028268187"},{"credibility":2,"name":"Movement Labs terminates co-founder Rushi Manche, launches new firm — CoinTelegraph","type":"news_article","url":"https://cointelegraph.com/news/movement-labs-terminates-co-founder-over-market-turmoil"},{"credibility":2,"name":"Movement Labs Terminates Co-Founder Rushi Manche Following Chaotic Week — Decrypt","type":"news_article","url":"https://decrypt.co/318292/movement-labs-terminates-co-founder-rushi-manche"},{"credibility":2,"name":"Movement Labs suspends co-founder following MOVE market turmoil — CoinTelegraph","type":"news_article","url":"https://cointelegraph.com/news/movement-labs-cofounder-suspended-over-market-maker-controversy"}]},{"content":"The market-making controversy triggered cascading exchange actions against the MOVE token. Coinbase announced on May 1, 2025 that it was moving MOVE to limit-only trading, citing that the token no longer met its listing standards following the market-maker scandal. Trading was suspended on May 15, 2025. The MOVE token fell approximately 34% in the week following Manche's termination and ultimately declined more than 94% from its launch price. Binance, separately, offboarded the Web3Port market-making account on March 18, 2025, froze its assets, and partnered with the Movement Network Foundation on a reported $38 million MOVE repurchase plan funded from recovered assets. These exchange actions were directed at the MOVE token and the implicated market maker, not against Manche personally.","heading":"Exchange Delistings and Market Impact","severity":"high","sources":[{"credibility":2,"name":"Coinbase delisting sends Movement's MOVE token to all-time low amid market-making scandal — CryptoSlate","type":"news_article","url":"https://cryptoslate.com/coinbase-delisting-sends-movements-move-token-to-all-time-low-amid-market-making-scandal/"},{"credibility":2,"name":"Movement Labs Faces MOVE Token Delisting and Market-Making Fallout — CryptoNinjas","type":"news_article","url":"https://www.cryptoninjas.net/news/movement-labs-faces-move-token-delisting-and-market%E2%80%91making-fallout/"},{"credibility":3,"name":"Movement Labs Files for Chapter 11 Bankruptcy — MOVE Token Crashes 94% — Bitcoin Foundation","type":"news_article","url":"https://bitcoinfoundation.org/news/crypto-companies-news/movement-bankcuprcy/"}]},{"content":"In early May 2025, the U.S. Department of Justice issued a grand jury subpoena to MVMT Labs regarding 'market-making activities associated with a recent token launch,' according to court filings in Manche's subsequent Delaware Chancery Court lawsuit. This is a confirmed investigative step; as of this page's publication date (August 2026) no criminal charges, indictment, or criminal finding against Rushi Manche or any other individual in connection with the MOVE token launch have been publicly reported. Manche's attorneys contacted the relevant Assistant United States Attorney in October 2025, and MVMT Labs used this contact as grounds to deny Manche's advancement of legal fees, arguing he had 'initiated' the proceeding. Delaware Magistrate Wright rejected this argument on March 6, 2026, ruling that Manche was entitled to advancement of legal fees under an Indemnification Agreement, holding that 'self-initiated communication with the investigating authority, especially when the proceeding has already begun, does not constitute initiation of the proceeding barring advancement.' The DOJ investigation remains ongoing as of this page's date.","heading":"DOJ Grand Jury Investigation","severity":"critical","sources":[{"credibility":1,"name":"Who Started It? Delaware Court of Chancery to Address Whether Contacting DOJ Is Initiating a Proceeding in Advancement Case — Sidley/Enhanced Scrutiny","type":"court_filing","url":"https://ma-litigation.sidley.com/2026/05/who-started-it-delaware-court-of-chancery-to-address-whether-contacting-doj-is-initiating-a-proceeding-in-advancement-case/"},{"credibility":1,"name":"Rushikesh Manche v. MVMT Labs, Inc. (2026) — Justia Delaware Court of Chancery","type":"court_filing","url":"https://law.justia.com/cases/delaware/court-of-chancery/2026/c-a-no-2025-1407-cdw.html"},{"credibility":1,"name":"Ousted founder's $1.6 million claim tops Movement Labs' bankruptcy filing — The Block","type":"news_article","url":"https://www.theblock.co/post/409151/ousted-founders-1-6-million-claim-tops-movement-labs-bankruptcy-filing"}]},{"content":"On July 9, 2025, approximately two months after his termination, Manche filed suit against MVMT Labs in the Delaware Court of Chancery (C.A. No. 2025-1407-CDW), seeking a declaratory judgment regarding his rights — an action commonly used to resolve disputes over contractual or corporate law obligations. The central dispute in the advancement phase of the case was whether Manche was entitled to have MVMT Labs fund his legal fees related to the DOJ grand jury investigation, pursuant to an Indemnification Agreement signed March 31, 2025. On March 6, 2026, Delaware Magistrate Wright issued a 52-page report granting Manche advancement, ruling that his reasonable expectation of involvement in the DOJ proceeding — based on his corporate status — entitled him to fee advancement regardless of formal party status. Vice Chancellor Laster scheduled a hearing on exceptions to the Magistrate's report for June 3, 2026. The outcome of that hearing, and the underlying merits of the case, are not reflected in available public reporting as of this page's publication.","heading":"Delaware Chancery Court Lawsuit and Legal Fee Advancement","severity":"high","sources":[{"credibility":1,"name":"Rushikesh Manche v. MVMT Labs, Inc. (2025) — Justia Delaware Court of Chancery","type":"court_filing","url":"https://law.justia.com/cases/delaware/court-of-chancery/2025/c-a-no-2025-1407-cdw.html"},{"credibility":1,"name":"Rushikesh Manche v. MVMT Labs, Inc. (2026) — Justia Delaware Court of Chancery","type":"court_filing","url":"https://law.justia.com/cases/delaware/court-of-chancery/2026/c-a-no-2025-1407-cdw.html"},{"credibility":2,"name":"Ousted Movement Labs Co-Founder Sues Startup in Delaware Court — The Defiant","type":"news_article","url":"https://thedefiant.io/news/people/ousted-movement-labs-co-founder-sues-startup-in-delaware-court"},{"credibility":1,"name":"Who Started It? — Sidley/Enhanced Scrutiny","type":"court_filing","url":"https://ma-litigation.sidley.com/2026/05/who-started-it-delaware-court-of-chancery-to-address-whether-contacting-doj-is-initiating-a-proceeding-in-advancement-case/"}]},{"content":"MVMT Labs, Inc. filed a voluntary Chapter 11 petition in the U.S. Bankruptcy Court for the District of Delaware on July 15, 2026, under Subchapter V. The filing listed assets between $100,001 and $500,000 and liabilities of up to $10 million with under 1,000 creditors. Rushi Manche is listed as the largest unsecured creditor in the bankruptcy proceeding, with a claim exceeding $1.6 million, stemming primarily from legal fees incurred during the DOJ grand jury investigation. Simultaneously, Manche retains a 34.25% equity stake in MVMT Labs despite his termination. This dual position — as the company's largest unsecured creditor and as its second-largest or substantial equity holder — creates a structural conflict of interest in the bankruptcy proceeding, as creditor and equity interests may diverge significantly in a reorganization or liquidation scenario. No court has adjudicated any wrongdoing arising from this dual status; it is noted here as a material structural fact relevant to the proceeding's outcome.","heading":"Conflict of Interest in Movement Labs Bankruptcy","severity":"high","sources":[{"credibility":1,"name":"Ousted founder's $1.6 million claim tops Movement Labs' bankruptcy filing — The Block","type":"news_article","url":"https://www.theblock.co/post/409151/ousted-founders-1-6-million-claim-tops-movement-labs-bankruptcy-filing"},{"credibility":1,"name":"Movement Labs files for Chapter 11 months after token scandal — CoinDesk","type":"news_article","url":"https://www.coindesk.com/policy/2026/07/21/movement-labs-files-for-chapter-11-months-after-token-scandal-and-strategic-overhaul"},{"credibility":2,"name":"Movement Labs collapses into bankruptcy after MOVE token scandals — Crypto.news","type":"news_article","url":"https://crypto.news/movement-labs-collapses-into-bankruptcy-token-scandals/"},{"credibility":2,"name":"From a $3B Valuation to Bankruptcy: Movement Labs Files Chapter 11 — CryptoTimes","type":"news_article","url":"https://www.cryptotimes.io/2026/07/22/from-a-3b-valuation-to-bankruptcy-movement-labs-files-chapter-11/"}]},{"content":"Several individuals are documented in connection with the Rentech/Web3Port arrangement and Manche's network. Sam Thapaliya, founder of Zebec Protocol and a college acquaintance of Manche and Scanlon, was described by at least one Movement Labs employee as 'a close advisor to Rushi and perhaps sort of a shadow third co-founder,' according to CoinDesk's investigation. Thapaliya denied holding any formal role, equity, tokens, or decision-making power at Movement Labs or the Movement Foundation. Galen Law-Kun was identified as the owner of Rentech; CoinDesk reported that Movement Foundation general counsel YK Pek may have assisted in establishing the Rentech entity. Pek initially rejected the deal before reportedly drafting a revised version. These are allegations and characterizations from investigative reporting; no charges have been filed against any of the named individuals as of this page's publication.","heading":"Associated Persons of Interest","severity":"medium","sources":[{"credibility":1,"name":"Inside Movement's Token-Dump Scandal: Secret Contracts, Shadow Advisers and Hidden Middlemen — CoinDesk","type":"news_article","url":"https://www.coindesk.com/tech/2025/04/30/inside-movement-s-token-dump-scandal-secret-contracts-shadow-advisors-and-hidden-middlemen"},{"credibility":2,"name":"Movement Labs suspends co-founder Rushi Manche after allegations from delisting drama — Cryptopolitan","type":"news_article","url":"https://www.cryptopolitan.com/movement-labs-suspends-co-founder-manche/"}]},{"content":"On December 11, 2025 — approximately seven months after his termination from Movement Labs — Manche publicly announced the launch of Nyx Group, described as a multi-strategy investment initiative planning to deploy up to $100 million into liquid crypto markets. According to the launch press release and associated coverage, Nyx Group aims to provide capital, operational support, and strategic guidance to blockchain founders navigating token launches. Manche stated the group would invest only in founders it 'knows and trusts' and that it had already begun deploying capital prior to the announcement. The press release made no disclosure of Manche's Movement Labs history or the ongoing DOJ investigation. Manche indicated the group brings together 'multiple partners and family offices' but declined to disclose specific backers at launch. The announcement was covered in the context of Manche's prior removal from Movement Labs by multiple outlets. No regulatory action specific to Nyx Group has been reported.","heading":"Post-Termination Activity: Nyx Group","severity":"medium","sources":[{"credibility":2,"name":"Announcing Nyx Group — PR Newswire (official press release)","type":"official","url":"https://www.prnewswire.com/news-releases/announcing-nyx-group-a-multi-strategy-investment-group-looking-to-deploy-up-to-100m-into-liquid-markets-302638650.html"},{"credibility":1,"name":"After Movement Labs exit, Rushi Manche unveils Nyx Group venture with $100 million plan to back token projects — The Block","type":"news_article","url":"https://www.theblock.co/post/382166/rushi-manche-nyx-group-100-million-usd-plan-to-back-token-projects"},{"credibility":2,"name":"Rushi Manche returns with $100M fund after scandalous Movement Labs exit — Cryptopolitan","type":"news_article","url":"https://www.cryptopolitan.com/rushi-manche-100m-fund-movement-labs/"}]}],"sources_used":[{"credibility":1,"name":"Inside Movement's Token-Dump Scandal: Secret Contracts, Shadow Advisers and Hidden Middlemen — CoinDesk","type":"news_article","url":"https://www.coindesk.com/tech/2025/04/30/inside-movement-s-token-dump-scandal-secret-contracts-shadow-advisors-and-hidden-middlemen"},{"credibility":1,"name":"Movement Labs Terminates Founder Rushi Manche After CoinDesk Expose — CoinDesk","type":"news_article","url":"https://www.coindesk.com/markets/2025/05/07/movement-labs-terminates-rushi-manche-after-move-token-deals"},{"credibility":1,"name":"Movement Labs files for Chapter 11 months after token scandal — CoinDesk","type":"news_article","url":"https://www.coindesk.com/policy/2026/07/21/movement-labs-files-for-chapter-11-months-after-token-scandal-and-strategic-overhaul"},{"credibility":1,"name":"Most Influential: Rushi Manche — CoinDesk","type":"news_article","url":"https://www.coindesk.com/tech/2025/12/10/most-influential-rushi-manche"},{"credibility":1,"name":"Ousted founder's $1.6 million claim tops Movement Labs' bankruptcy filing — The Block","type":"news_article","url":"https://www.theblock.co/post/409151/ousted-founders-1-6-million-claim-tops-movement-labs-bankruptcy-filing"},{"credibility":1,"name":"Movement Labs 'terminates' co-founder Rushi Manche following controversial MOVE token deals — The Block","type":"news_article","url":"https://www.theblock.co/post/353417/movement-labs-terminates-co-founder-rushi-manche-following-controversial-move-token-deals"},{"credibility":1,"name":"After Movement Labs exit, Rushi Manche unveils Nyx Group venture — The Block","type":"news_article","url":"https://www.theblock.co/post/382166/rushi-manche-nyx-group-100-million-usd-plan-to-back-token-projects"},{"credibility":1,"name":"Rushikesh Manche v. MVMT Labs, Inc. (2025) — Justia Delaware Court of Chancery","type":"court_filing","url":"https://law.justia.com/cases/delaware/court-of-chancery/2025/c-a-no-2025-1407-cdw.html"},{"credibility":1,"name":"Rushikesh Manche v. MVMT Labs, Inc. (2026) — Justia Delaware Court of Chancery","type":"court_filing","url":"https://law.justia.com/cases/delaware/court-of-chancery/2026/c-a-no-2025-1407-cdw.html"},{"credibility":1,"name":"Who Started It? Delaware Court of Chancery to Address Whether Contacting DOJ Is Initiating a Proceeding in Advancement Case — Sidley/Enhanced Scrutiny","type":"court_filing","url":"https://ma-litigation.sidley.com/2026/05/who-started-it-delaware-court-of-chancery-to-address-whether-contacting-doj-is-initiating-a-proceeding-in-advancement-case/"},{"credibility":2,"name":"Ousted Movement Labs Co-Founder Sues Startup in Delaware Court — The Defiant","type":"news_article","url":"https://thedefiant.io/news/people/ousted-movement-labs-co-founder-sues-startup-in-delaware-court"},{"credibility":2,"name":"Movement Labs terminates co-founder Rushi Manche, launches new firm — CoinTelegraph","type":"news_article","url":"https://cointelegraph.com/news/movement-labs-terminates-co-founder-over-market-turmoil"},{"credibility":2,"name":"Movement Labs suspends co-founder following MOVE market turmoil — CoinTelegraph","type":"news_article","url":"https://cointelegraph.com/news/movement-labs-cofounder-suspended-over-market-maker-controversy"},{"credibility":2,"name":"Movement Labs Terminates Co-Founder Rushi Manche Following Chaotic Week — Decrypt","type":"news_article","url":"https://decrypt.co/318292/movement-labs-terminates-co-founder-rushi-manche"},{"credibility":2,"name":"Movement Labs collapses into bankruptcy after MOVE token scandals — Crypto.news","type":"news_article","url":"https://crypto.news/movement-labs-collapses-into-bankruptcy-token-scandals/"},{"credibility":2,"name":"From a $3B Valuation to Bankruptcy: Movement Labs Files Chapter 11 — CryptoTimes","type":"news_article","url":"https://www.cryptotimes.io/2026/07/22/from-a-3b-valuation-to-bankruptcy-movement-labs-files-chapter-11/"},{"credibility":2,"name":"Movement on X confirming suspension of Rushi Manche","type":"social_media","url":"https://x.com/movementlabsxyz/status/1918134801028268187"},{"credibility":2,"name":"Coinbase delisting sends Movement's MOVE token to all-time low amid market-making scandal — CryptoSlate","type":"news_article","url":"https://cryptoslate.com/coinbase-delisting-sends-movements-move-token-to-all-time-low-amid-market-making-scandal/"},{"credibility":2,"name":"Binance Cracks Down on Market Manipulation, Bans Movement MOVE Project Market Maker — CryptoNinjas","type":"news_article","url":"https://www.cryptoninjas.net/news/binance-cracks-down-on-market-manipulation-bans-movement-move-project-market-maker/"},{"credibility":2,"name":"Movement Labs suspends co-founder Rushi Manche after allegations from delisting drama — Cryptopolitan","type":"news_article","url":"https://www.cryptopolitan.com/movement-labs-suspends-co-founder-manche/"},{"credibility":2,"name":"Rushi Manche returns with $100M fund after scandalous Movement Labs exit — Cryptopolitan","type":"news_article","url":"https://www.cryptopolitan.com/rushi-manche-100m-fund-movement-labs/"},{"credibility":2,"name":"Announcing Nyx Group — PR Newswire","type":"official","url":"https://www.prnewswire.com/news-releases/announcing-nyx-group-a-multi-strategy-investment-group-looking-to-deploy-up-to-100m-into-liquid-markets-302638650.html"},{"credibility":2,"name":"Movement Labs Bankruptcy: How Was a Contract That Everyone Knew Was Toxic Signed? — PANews English","type":"news_article","url":"https://panews.io/articles/019f890a-bd08-76c8-99f1-1f883da7705e"},{"credibility":2,"name":"Movement Labs Bankruptcy Details and Market-Making Scandal — Cryptonomist","type":"news_article","url":"https://en.cryptonomist.ch/2026/07/22/movement-labs-bankruptcy/"}],"summary":"Rushikesh 'Rushi' Manche is the co-founder and former CEO of Movement Labs (MVMT Labs, Inc.), a blockchain infrastructure startup that raised at a $3 billion valuation and launched the MOVE token in December 2024. He was suspended on May 2, 2025 and terminated on May 7, 2025 following a third-party investigation by Groom Lake that, according to Movement Labs, linked him to a controversial market-making arrangement with intermediary Rentech and Chinese firm Web3Port that allegedly enabled a coordinated dump of approximately 66 million MOVE tokens within 24 hours of launch, causing an estimated $38 million in downward price pressure. A U.S. Department of Justice grand jury investigation into the MOVE token launch is confirmed; as of the date of this page no charges, indictment, or criminal finding against Manche has been publicly reported. MVMT Labs filed for Chapter 11 bankruptcy on July 15, 2026, listing Manche as its largest unsecured creditor with a $1.6 million claim while he simultaneously retains a 34.25% equity stake in the company.","timeline":[{"date":"2022-11","event":"Rushi Manche and Cooper Scanlon co-found Movement Labs to extend the Move programming language to Ethereum and other ecosystems.","source":"UseTheBitcoin profile; CoinDesk Most Influential","source_url":"https://www.coindesk.com/tech/2025/12/10/most-influential-rushi-manche"},{"date":"2024-11-25","event":"Web3Port signs agreement with Rentech, which purports to act as a Movement Foundation agent.","source":"CoinDesk — Inside Movement's Token-Dump Scandal","source_url":"https://www.coindesk.com/tech/2025/04/30/inside-movement-s-token-dump-scandal-secret-contracts-shadow-advisors-and-hidden-middlemen"},{"date":"2024-11-27","event":"Rentech proposes initial market-making agreement to Movement. Movement Foundation general counsel YK Pek reportedly flags serious concerns, labeling it 'possibly the worst agreement' he had reviewed.","source":"CoinDesk — Inside Movement's Token-Dump Scandal","source_url":"https://www.coindesk.com/tech/2025/04/30/inside-movement-s-token-dump-scandal-secret-contracts-shadow-advisors-and-hidden-middlemen"},{"date":"2024-12-08","event":"Movement Foundation signs revised market-making agreement with Web3Port through Rentech, one day before the MOVE token debut.","source":"CoinDesk — Inside Movement's Token-Dump Scandal","source_url":"https://www.coindesk.com/tech/2025/04/30/inside-movement-s-token-dump-scandal-secret-contracts-shadow-advisors-and-hidden-middlemen"},{"date":"2024-12-09","event":"MOVE token debuts on major exchanges including Binance.","source":"CoinDesk — Inside Movement's Token-Dump Scandal","source_url":"https://www.coindesk.com/tech/2025/04/30/inside-movement-s-token-dump-scandal-secret-contracts-shadow-advisors-and-hidden-middlemen"},{"date":"2024-12-10","event":"Approximately 66 million MOVE tokens (roughly 5% of total supply) are sold into the market, creating an estimated $38 million in downward price pressure. Binance bans the market-making account for misconduct.","source":"CoinDesk; CryptoNinjas Binance ban report","source_url":"https://www.cryptoninjas.net/news/binance-cracks-down-on-market-manipulation-bans-movement-move-project-market-maker/"},{"date":"2025-03-18","event":"Binance formally offboards the Web3Port market-making account, freezes its assets, and partners with Movement Network Foundation on a reported $38 million MOVE repurchase plan.","source":"Movement Labs Bankruptcy Details — Cryptonomist","source_url":"https://en.cryptonomist.ch/2026/07/22/movement-labs-bankruptcy/"},{"date":"2025-03-31","event":"Manche signs an Indemnification Agreement with MVMT Labs, per Delaware court filings.","source":"Sidley/Enhanced Scrutiny — Delaware Chancery Advancement Case","source_url":"https://ma-litigation.sidley.com/2026/05/who-started-it-delaware-court-of-chancery-to-address-whether-contacting-doj-is-initiating-a-proceeding-in-advancement-case/"},{"date":"2025-04-30","event":"CoinDesk publishes its investigation 'Inside Movement's Token-Dump Scandal: Secret Contracts, Shadow Advisers and Hidden Middlemen,' detailing Manche's alleged role in forwarding and promoting the Rentech contract.","source":"CoinDesk","source_url":"https://www.coindesk.com/tech/2025/04/30/inside-movement-s-token-dump-scandal-secret-contracts-shadow-advisors-and-hidden-middlemen"},{"date":"2025-05-01","event":"Coinbase announces MOVE token will move to limit-only trading and be delisted, citing failure to meet listing standards.","source":"CryptoSlate — Coinbase delisting","source_url":"https://cryptoslate.com/coinbase-delisting-sends-movements-move-token-to-all-time-low-amid-market-making-scandal/"},{"date":"2025-05-02","event":"Movement Labs publicly confirms suspension of Rushi Manche, citing 'ongoing events' and the pending Groom Lake third-party review.","source":"Movement Labs on X; CoinTelegraph","source_url":"https://x.com/movementlabsxyz/status/1918134801028268187"},{"date":"2025-05-07","event":"Movement Labs formally terminates Rushi Manche. Move Industries is announced as a successor entity under new leadership (Torab Torabi, CEO).","source":"Decrypt; CoinTelegraph","source_url":"https://decrypt.co/318292/movement-labs-terminates-co-founder-rushi-manche"},{"date":"2025-05-early","event":"DOJ issues a grand jury subpoena to MVMT Labs regarding 'market-making activities associated with a recent token launch,' per Delaware court filings.","source":"Sidley/Enhanced Scrutiny — Delaware Chancery Advancement Case","source_url":"https://ma-litigation.sidley.com/2026/05/who-started-it-delaware-court-of-chancery-to-address-whether-contacting-doj-is-initiating-a-proceeding-in-advancement-case/"},{"date":"2025-07-09","event":"Manche files suit against MVMT Labs in Delaware Court of Chancery (C.A. No. 2025-1407-CDW), seeking declaratory judgment and advancement of legal fees.","source":"The Defiant; Justia","source_url":"https://thedefiant.io/news/people/ousted-movement-labs-co-founder-sues-startup-in-delaware-court"},{"date":"2025-10","event":"Manche's counsel contacts an Assistant United States Attorney. MVMT Labs subsequently denies Manche's advancement request, arguing he had 'initiated' the DOJ proceeding.","source":"Sidley/Enhanced Scrutiny","source_url":"https://ma-litigation.sidley.com/2026/05/who-started-it-delaware-court-of-chancery-to-address-whether-contacting-doj-is-initiating-a-proceeding-in-advancement-case/"},{"date":"2025-12-11","event":"Manche announces Nyx Group, a $100 million multi-strategy investment fund targeting token-launch projects.","source":"PR Newswire; The Block","source_url":"https://www.prnewswire.com/news-releases/announcing-nyx-group-a-multi-strategy-investment-group-looking-to-deploy-up-to-100m-into-liquid-markets-302638650.html"},{"date":"2026-03-06","event":"Delaware Magistrate Wright issues 52-page ruling granting Manche advancement of legal fees, holding that contacting the DOJ after an investigation has begun does not constitute 'initiating' a proceeding under the Indemnification Agreement.","source":"Justia — Rushikesh Manche v. MVMT Labs (2026); Sidley","source_url":"https://law.justia.com/cases/delaware/court-of-chancery/2026/c-a-no-2025-1407-cdw.html"},{"date":"2026-06-03","event":"Vice Chancellor Laster schedules hearing on exceptions to Magistrate Wright's advancement ruling.","source":"Sidley/Enhanced Scrutiny","source_url":"https://ma-litigation.sidley.com/2026/05/who-started-it-delaware-court-of-chancery-to-address-whether-contacting-doj-is-initiating-a-proceeding-in-advancement-case/"},{"date":"2026-07-15","event":"MVMT Labs, Inc. files voluntary Chapter 11 bankruptcy petition in U.S. Bankruptcy Court, District of Delaware, under Subchapter V. Manche is listed as the largest unsecured creditor with a $1.6 million claim while retaining a 34.25% equity stake.","source":"CoinDesk; The Block","source_url":"https://www.coindesk.com/policy/2026/07/21/movement-labs-files-for-chapter-11-months-after-token-scandal-and-strategic-overhaul"}]},"v":1}

   Verify offline (run on your own machine)

   python -m src.verify_decision 155ebbdb-1bcf-466d-9612-ec443cb4c210copy