Two commercial memoranda obtained by CoinDesk reveal that Movement Labs secretly allocated up to 10% of the MOVE token supply to advisors through undisclosed agreements. Leaked documents show that advisors Sam Thapaliya and Vinit Parekh received token allocations of 5% and 2.5%, respectively, valued at over 50 million USD. Thapaliya is internally referred to as the "shadow co-founder" and is now threatening legal action to claim the tokens. Movement Labs states the agreement is non-binding, but this incident exacerbates the impact of its market manipulation scandal, with co-founders Rushi Manche and Cooper Scanlon publicly splitting. (CoinDesk)

MOVE

CoinDesk obtained two business memorandums revealing that Movement Labs secretly allocated up to 10% of the MOVE token supply to advisors through undisclosed agreements. The leaked documents show that advisors Sam Thapaliya and Vinit Parekh were allocated 5% and 2.5% of the tokens respectively, valued at over 50 million USD. Thapaliya, internally referred to as the "shadow co-founder," is now threatening legal action to claim the tokens. Movement Labs stated that the agreement is non-binding, but this incident has intensified the impact of its market manipulation scandal, with co-founders Rushi Manche and Cooper Scanlon publicly splitting. (CoinDesk)

Movement Labs had secretly promised up to a 10% token share to two advisors.