Movement Labs Co-founder Rushi Manche Establishes Nyx Group, Plans to Invest $100 Million in Token Projects

According to HashChain News, former co-founder of Movement Labs Rushi Manche announced the establishment of a new investment institution, Nyx Group, with plans to provide up to $100 million in liquidity support to projects issuing tokens soon, as well as comprehensive operational support in areas such as compliance, community, and governance. Currently, Nyx Group claims to have started investment operations, supporting only founders who are “deeply trusted” by the team, focusing on projects with active users, revenue, and community market traction. Manche stated that this model aims to fill the gap caused by the lack of funding and guidance for current entrepreneurs, and aspires to become the “most entrepreneur-friendly” crypto investment institution. Notably, Manche was previously removed from his position at Movement Labs due to involvement in a controversy over market manipulation of 66 million MOVE tokens, and related legal proceedings are still ongoing.

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