Rushi Manche, former co-founder of Movement Labs, has launched Nyx Group, planning to invest $100 million to support token projects.

PANews reported on December 11 that Rushi Manche, former co-founder of Movement Labs, announced the establishment of a new investment firm, Nyx Group, which plans to invest up to $100 million in liquidity in projects that are about to issue tokens, and provide comprehensive operational support in compliance, community, and governance.

Nyx Group claims to have begun investing in projects that only support founders with whom they have "deep trust," focusing on projects with market traction such as active users, revenue, and community. Manche states that this model aims to fill the gap in funding and guidance currently lacking for entrepreneurs, and aspires to become the "most founder-friendly" crypto investment firm.

Manche was dismissed by Movement Labs due to a controversy involving the manipulation of 66 million MOVE tokens, and the relevant legal proceedings are still ongoing.