- World Liberty Financial acquired US$2 million worth of MOVE tokens, ranking it as the platform’s tenth-largest asset.
- Movement Labs is said to have engaged in preliminary discussions with the Department of Government Efficiency, exploring blockchain’s role in US finance.
- Despite the rumours, Rushi Manche of Movement Labs emphasised no close contact with DOGE, acknowledging the sector’s developmental stage.
- MOVE price surged 14%, reflecting market response to recent developments and the launch of Movement’s Developer Phase of its Public Mainnet.
Trump-backed DeFi platform World Liberty Financial recently acquired US$2 million (AU$3.21 million) worth of MOVE tokens, making it the platform’s tenth-largest holding.
According to a report by The Block, citing DB newswire, Movement Labs is in discussions with Elon Musk’s Department of Government Efficiency (DOGE). The newly created office is said to be in talks with several public blockchains in efforts to explore the role the technology could play in US finance.
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The co-founder, Rushi Manche, said they’re happy to be part of the new admin as a “first altcoin” and first “modern blockchain”.
He later clarified in a message on Crypto Twitter that there is no official connection or close contact with DOGE – and yes, that’s all in lowercase:
want to clarify that nothing from the movement labs offices or growth team have crossed DOGE’s desks – all crypto is very early stage across the board and policy is still an ongoing discussion throughout the entire administration. we would like to thank @worldlibertyfi for their continued support and look forward to an american future for MOVE.
Rushi Manche. MOVE founderMovement Network offers a Move-EVM Layer 2 solution for Ethereum, enabling developers to build interoperable blockchain applications using Move.
The project, supported by investors like Polychain and Binance Labs, aims to improve blockchain interoperability.
MOVE Price Reacts Strongly
The Movement Network Foundation has also just launched the Developer Phase of its Public Mainnet, building on the initial release from December and setting the stage for the Public Mainnet Beta, due in mid-February.
Alongside this, the foundation announced Cornucopia, a multi-asset liquidity campaign designed to enhance ecosystem growth, market efficiency, and protocol adoption with the launch of the Public Mainnet Beta.
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Despite an overall market downturn, the price of Movement (MOVE) reacted strongly to the flurry of news and rumours.
MOVE moved (sorry) up by 14% over the past 24 hours, trading for US$0.80 (AU$1.28) at the time of writing.
According to CoinMarketCap, MOVE is the 58th largest network by market cap, with US$1.86 billion (AU$2.98 billion) it ranks just behind Jupiter (JUP), Optimism (OP), Immutable (IMX) and Stacks (STX).
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