Former Movement Labs Co-Founder Launches Crypto Investment Program

ChainCatcher reported that Rushi Manche, former co-founder of MOVE Labs, announced today the establishment of Nyx Group, with plans to invest up to 100 million USD to support crypto token projects.

This investment plan will provide liquidity and comprehensive operational support for projects preparing to launch tokens, including community building, financial management, and compliance guidance. Manche stated that Nyx Group aims to fill a "critical gap" in the current crypto market, especially in an environment where founders face difficulties in accessing capital. 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 market-making arrangements for 66 million MOVE tokens. Regarding the new project, he emphasized that Nyx Group will be "the most founder-friendly partner," offering favorable terms and supporting long-term visions.