Movement Labs, which is backed by the Trump-linked World Liberty Financial (WLFI), is again facing backlash following allegations over a deal that the team made with early insiders. Documents show that the MOVE team failed to disclose this deal to investors, a move that could lead to accusations of misrepresentation. Amid this saga, the MOVE price has dropped over 6% in the last 24 hours. Movement Labs Accused Of Shady Deal With Early Insiders According to the Journalist Sam Kessler, the crypto startup quietly promised early insiders access to up to 10% of the supply of the MOVE token. The journalist cited documents that CoinDesk obtained, noting that the team didn’t disclose this deal to investors. The documents show that Movement Labs allocated a large portion of its token supply to two shadow advisers, including Zebec CEO Sam Thapaliya, during early funding rounds in 2023. Kessler revealed that some of… Read More at BitcoinLinux.com
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