TechFlow news, December 11 — According to The Block, Rushi Manche, former co-founder of MOVE Labs, announced today the launch of Nyx Group, which plans to allocate up to $100 million to support cryptocurrency token projects. This investment initiative will provide liquidity and comprehensive operational support to projects preparing for token launches, including community building, financial management, and compliance guidance.
Manche stated that Nyx Group aims to fill a "critical gap" in the current crypto market, especially in an environment where founders face difficulties accessing capital. The team will apply rigorous investment criteria, supporting only founders they deeply trust, with decisions made by an investment committee.
Notably, Manche was previously terminated from Movement Labs due to controversy surrounding market-making arrangements involving 66 million MOVE tokens. Regarding his new venture, he emphasized that Nyx Group will be the "most founder-friendly partner," offering favorable terms and backing long-term visions.
