A crypto scandal emerged following a $100 million donation to Trump.

It has been revealed that the mysterious donor supporting Trump, Aqua 1, is Web3Port, known for the MOVE token scandal. This company manipulated the token sale, severely harmed investors, and therefore attracted significant backlash.

What had happened?

The MOVE token of Movement Labs, which has made a name for itself in the crypto world, had gained attention due to scandals. In the early stages of the project, a significant portion of the supply was allocated to certain individuals whose names were not visible on paper.

A person named Sam Thapaliya was also among those who received a portion of the supply. Thapaliya's name was also associated with the Chinese market-making company Web3Port.

Another firm named Rentech, which is connected to Web3Port and acts on its behalf, was allocated 5% of the MOVE token supply. This company later made a sale of 38 million dollars when there were exchange listings, significantly reducing the token price.

Binance and Coinbase intervened

Many exchanges, including Binance, have intervened in this situation. Binance imposed a ban on the accounts of this market-making company. Coinbase also decided to delist the coin.

Additionally, Binance seized the $38 million worth of USDT obtained from the sale. Movement Labs later collaborated with Binance to develop a buyback strategy using these funds and attempted to drive the price back up.

Movement Labs also removed Rushi Manche, one of the founders of the project, from the company. It was stated that Manche made many of his decisions in consultation with Thapaliya, who is linked to the token supply and sales.

Published: July 15, 2025 10:08 Last Updated: July 15, 2025 10:26