Former co-founder of Movement Labs launches $100 million crypto investment plan

MOVE Labs former co-founder Rushi Manche 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 "critical gap" in the current crypto market, especially in an environment where founders face difficulties in capital acquisition. The team will adopt strict investment standards, supporting only founders deeply trusted by the team, with decisions made by an investment committee. Notably, Manche was previously terminated from Movement Labs due to a controversy involving a market-making arrangement with 66 million MOVE tokens. Regarding the new project, he emphasized that Nyx Group will become the "most founder-friendly partner," offering favorable conditions and supporting long-term visions.