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Trump-Backed Firm Boosts MOVE Token 20% as Musk's DOGE Eyes Blockchain

Coin WorldTuesday, Jan 28, 2025 1:01 pm ET

1min read

The MOVE token, native to the Ethereum layer-2 network Movement, surged by 20% on Tuesday following a $2 million purchase by Donald Trump-backed World Liberty Financial. According to blockchain data from Arkham Intelligence, the transactions took place during U.S. morning hours, sparking excitement among traders. Although MOVE eventually trimmed some gains, it remained up 13% by press time.

Adding to these developments, reports revealed that Movement is in talks with Elon Musk's Department of Government Efficiency (DOGE). Musk, tasked with cutting federal expenses, is reportedly exploring blockchain applications for tasks like tracking spending and managing payments. According to Bloomberg, DOGE has reached out to several blockchain teams, including Movement, fueling speculation about the network's role in future government operations.

As blockchain gains traction in government discussions and high-profile investments like Trump-backed World Liberty Financial's MOVE token purchase make headlines, staying informed is crucial for investors. Track your investments to stay ahead of these developments.

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