Movement Labs' former co-founder went independent, and the new fund is preparing to invest 100 million USD.

【Block Rhythm】Movement Labs’ former co-founder Rushi Manche has recently made new moves. On December 11, it was reported that he and several partners launched a new project—Nyx Group, with plans to inject $100 million into the liquidity market.

This new fund is not just about investing money; it will also provide operational support to projects issuing tokens. It is said that Nyx Group has actually been operating quietly for several months, making some initial investments, but the specific investments have not been disclosed yet. The funds are expected to be deployed gradually over the next few years.

Speaking of Manche, his departure from Movement Labs was quite controversial. Earlier this year, he was involved in a market-making arrangement involving 66 million MOVE tokens (about 5% of the total supply), which caused quite a stir, leading to Movement Labs terminating their partnership with him. Now it seems he is preparing to start anew in a different track.

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