Category: Economic & Financial Crime

Movement Labs has suspended co-founder Rushi Manche following revelations of a dubious market-making deal. The trouble stems from a deal between Movement Foundation and a third-party entity named Rentech, reportedly fronted by Singapore-based financier Galen Law-Kun. According to leaked contracts and internal messages, Rentech was supposed to facilitate liquidity provisioning for MOVE through Chinese market maker Web3Port. It led to a decision to transfer 66 million MOVE tokens to the little-known firm, amounting to about 5% of the circulating supply.Movement Labs Suspends Co-Founder Amid Market Maker Scandal: Full Details

Source: Wayne Jones, 2025-05-03; https://cryptopotato.com/movement-labs-suspends-co-founder-amid-market-maker-scandal-full-details/

The two parties have agreed to a $50 million settlement, signaling the end to their multi-year legal standoff. The settlement, outlined in a joint , requests that New York Judge Analisa Torres dissolve an existing injunction against Ripple and release $125 million held in escrow. The deal also ensures that the regulatory agency and the payments company will drop their respective appeals, with the former abandoning its challenge and the latter withdrawing its cross-appeal. The saga started in December 2020, when the SEC filed a appeal against Ripple.SEC, Ripple Ink $50M Settlement to End Long-Running Legal Battle

Source: Wayne Jones, 2025-05-10; https://cryptopotato.com/sec-ripple-ink-50m-settlement-to-end-long-running-legal-battle/

XRP was the least worst off for the week, down by 2.05% for the 7-day window ending Apr. 10. UK mega bank Standard Chartered a Q2 note to investors that XRP prices are about to rally to as high as 275% from April by the end of the year. “We think XRP price gains can keep pace with Bitcoin in real terms,” wrote StanChart’s digital assets researcher Geoff Kendrick. He mentioned that he could see the token trading for $12.50 before Trump leaves office in 2029.5 Ripple Metas Backing Standard Charter’s 525% XRP Price Forecast

Source: W. E. Messamore, 2025-04-14; https://cryptopotato.com/5-ripple-metas-backing-standard-charters-525-xrp-price-forecast/

Ether (ETH) plunged into territory not seen since 2019 before it posted a substantial recovery in the past few days. However, it’s still trading at a steep discount to Bitcoin (BTC) According to the latest weekly report from on-chain analytics platform CryptoQuant, the ETH/BTC MVRV ratio has entered “extremely undervalued” territory, a level that in past cycles set the stage for major ETH rebounds. But it pointed out that the current environment is markedly different, with a series of fundamental headwinds responsible for the undervaluation.Why ETH’s Undervaluation May Not Signal a Buying Opportunity: CQ Report

Source: Wayne Jones, 2025-05-12; https://cryptopotato.com/why-eths-undervaluation-may-not-signal-a-buying-opportunity-cq-report/

Bitcoin’s Realized Cap, an important on-chain metric reflecting the total dollar value invested in the network, has surged to an unprecedented $890.74 billion. The metric has become a barometer for long-term stakeholder sentiment and is calculated by summing the value of each bitcoin based on the price at which it last moved. The latest spike comes as BTC hovers just below the $100,000 mark, buoyed by investor optimism and macroeconomic tailwinds.Bitcoin Realized Cap Soars to New All-Time High

Source: Wayne Jones, 2025-05-10; https://cryptopotato.com/bitcoin-realized-cap-soars-to-new-all-time-high/

Munger made the news again this week for his amazing work ethic and sound investment advice. An article that appeared on CNBC reprised an old Munger quote that investors who can’t handle bear markets “deserve the mediocre result” they are likely to get. “Real opportunities that come to you are few… Most people just get a few times when they can make a huge difference by seizing a huge activity,” Munger said. Many individual investors today believe that for them that opportunity is Bitcoin.8 Charlie Munger Quotes for Investors Through This Bitcoin Price Retreat

Source: W. E. Messamore, 2025-04-14; https://cryptopotato.com/8-charlie-munger-quotes-for-investors-through-this-bitcoin-price-retreat/

Movement Labs has officially cut ties with co-founder Rushi Manche. Manche was kicked out following revelations of undisclosed token deals and a disastrous market-making agreement. The leadership shakeup sent the price of the network’s native MOVE token spiraling to a new all-time low. The 22-year-old played a central role in orchestrating a deal between Movement Foundation and an entity named Rentech, supposedly headed by Singapore-based financier Galen Law-Kun.MOVE Plunges to ATL as Movement Labs Terminates Co-Founder Rushi Manche

Source: Wayne Jones, 2025-05-08; https://cryptopotato.com/move-plunges-to-atl-as-movement-labs-terminates-co-founder-rushi-manche/

O’Leary laid out the case for investing in SUI this April along the lines of its high-performance transaction speeds and use cases in finance and gaming. At $2.12 in April, SUI’s price was down over 60% from its record high at the beginning of January. Popular crypto market analyst CryptoBullet wrote in an Apr. 7 update on X that they noticed a bullish technical indicator for SUI. Its price formed a chart pattern that preceded an aggressive multi-month rally for NE.Shark Tank Judge Says This Is ‘The Hottest’ Cryptocurrency in April

Source: W. E. Messamore, 2025-04-14; https://cryptopotato.com/shark-tank-judge-says-this-is-the-hottest-cryptocurrency-in-april/

Bitcoin Core developers have confirmed that the next software release will lift the long-standing 80-byte restriction on OP_RETURN transaction outputs. The decision was met with concern in the crypto space as users expressed dissatisfaction with the move. OP_ RETURN is a type of Bitcoin transaction output that small amounts of data to be stored on the blockchain. Unlike regular outputs, they are unspendable and therefore don’t contribute to unspent transaction outputs (UTXOs). Developers noted that many private mining accelerators already ignore the limit.Bitcoin Core to Remove OP_RETURN Limit in Next Upgrade

Source: Wayne Jones, 2025-05-07; https://cryptopotato.com/bitcoin-core-to-remove-op_return-limit-in-next-upgrade/

Crypto.com is growing its U.S. presence with a new regional office in Washington, D.C. The new office will be located close to the White House. This development comes as 21Shares has introduced a new Exchange-Traded Product (ETP) that gives investors regulated access to Crypto.com-supported blockchain Cronos. The D.c. desk will mainly focus on handling public and government-related matters for the company’s operati. The ETP will be available to investors on the 21Shares exchange.Crypto.com Expands US Presence with New Washington, DC Office

Source: Wayne Jones, 2025-05-08; https://cryptopotato.com/crypto-com-expands-us-presence-with-new-washington-dc-office/