🌙 Movement Labs Suspends Founder

Movement Labs has suspended co-founder Rushi Manche amid ongoing investigations into organizational governance.

Author

Mike Gavela
May 02, 2025

Crypto Roundup - May 2

In a turbulent start to May, the crypto sector is grappling with scandals, regulatory shake-ups, and ongoing security threats. Movement Labs suspended co-founder Rushi Manche following Coinbase’s delisting of the MOVE token amid concerns about integrity and leadership accountability. Meanwhile, the IRS is facing internal disruption as several key crypto investigators depart the agency, reportedly lured away by private-sector offers—including deals involving Dogecoin. On the security front, a new CertiK report highlights that April saw over $60 million in crypto stolen, underscoring persistent vulnerabilities across DeFi protocols and bridges.

Top Stories

  • Movement Labs suspends co-founder after MOVE token is delisted by Coinbase due to reputational concerns.

  • IRS crypto team sees exits, with agents reportedly leaving after being offered lucrative roles involving Dogecoin.

  • Over $60M stolen in April, according to CertiK’s report on hacks, scams, and exploits across crypto platforms.

TOP STORIES

MOVE News: Movement Labs Suspends Rushi Manche Amid Coinbase Delisting, Token-Dumping Scandal

Movement Labs cites 'ongoing events' as the reason for suspension.

www.coindesk.com/markets/2025/05/02/movement-labs-suspends-rushi-manche-after-coinbase-delists-move-token

IRS' Crypto Leads Are Leaving the Agency After Accepting DOGE Deals

The pair took voluntary resignation offers and left their positions after only a little more than a year of government service, according to two people.

www.coindesk.com/policy/2025/05/02/irs-crypto-leads-are-leaving-the-agency-after-accepting-doge-deals

A Single Phishing Attack Drives $364M in April Crypto Losses: CertiK - "The Defiant"

April proved to be a brutal month for crypto security, with over $364 million lost to exploits, hacks, and scams, according to blockchain security firm CertiK.

thedefiant.io/news/hacks/crypto-theft-in-april-certik-report

FUNDRAISING

OTHER HEADLINES

eToro eyes US IPO launch as early as next week amid easing concerns over Trump's tariffs

eToro plans to launch its US IPO next week amid eased tariff concerns, with a 2024 net income boost and Nasdaq listing under ETOR.

cryptobriefing.com/etoro-us-ipo-launch

Arbitrum, Optimism, and Base are fighting over $52 billion DeFi pie

Ethereum layer 2s are battling for dominance of a market they believe could be worth hundreds of billions of dollars.

protos.com/arbitrum-optimism-and-base-are-fighting-over-52-billion-defi-pie

Crypto sees windfall in Apple payments pivot after 27% cut

A federal judge struck down the “Apple tax” on Thursday. Apple has long insisted on taking a cut on purchases made within and outside iPhone applications. Crypto stands to benefit from the change.

www.dlnews.com/articles/regulation/crypto-sees-windfall-in-apple-ios-payments-pivot

CRYPTO TWITTER (X)

FOLLOW US ON SOCIAL

SHARE!

Love our newsletter? Share it with your friends, family, colleagues, interns who need to stay on top of the crypto markets! Join over 110,000 investors and crypto degenerates who read Midas Crypto Daily!