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- 📢 Gate Square #TopContentChallenge# is coming! Post high-quality content and win exclusive rewards!
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Movement Labs Token allocation controversy: Advisors exposed to receive 10% MOVE tokens
According to the Gate.io News bot, reports from CoinDesk reveal that two obtained business memorandums show that Movement Labs secretly allocated up to 10% of the MOVE Token supply to consultants.
According to leaked documents, consultants Sam Thapaliya and Vinit Parekh received token allocations of 5% and 2.5%, respectively, with a total value exceeding $50 million. Insiders refer to Thapaliya as the "shadow co-founder," and he is currently preparing to take legal action to claim his tokens.
Movement Labs responded that the relevant agreement is not binding. Following this incident, co-founders Rushi Manche and Cooper Scanlon have publicly expressed their differences.