“Movement’s Move Token is Now in “Limit-Only Mode” on the Trading Platform.”, – WRITE: www.coindesk.com
The token Fell More than 13% on the Trading Suspension News, While the Broader Market Gauge Coindesk 20 Index Rose 4.4%.
Movement Labs Is Currently Investigating How A Market Maker May have Gained Access to A Significant Number of Its Tokens, Which Were Ten Dumped on Retail Investors, CAUSING ITS. The Market Maker, Web3PORT, Appears in Contracts Previously Reported by Coindesk.
According to the Coindesk Report, MOVEMENT LABS CO-FOUNDER COOPER SCANlon Told Employees Last MONTH THAT The FIRM WAS INVESTIGATING How Rentech, WHICH MOVEMENT BELIEVED WEVEDEEDEDEDEEDEEDEDED Hold of Over 5% of Web3Port’s Move Tokens.
Access to Contracts Obtained by Coindesk, Rentech Had the abity to Liquidate All of Itkens Under Circulin Circumstans, WHICH Experts Said Could to FIRE. Value.
Crypto Exchange Binance Later Banned Web3Port, The Market-Maker, After $ 38 Million in Move Tokens in Wallets Tied to Web3Port Were Liquidated Following Moveting
Coinbase Did Not Share Many Details About the Trading Suspencing, Just Announcing that It Wuld be on May 15 by 2:00 PM Pacific Time (21:00 UTC).
We Regularly Monitor The Assets on Our Exchange to Ensure They Meet Our Listing Standards. Based on Recent Reviews, We Will Suspend Trading for Movement (Move) On May 15, 2025, on OR AUND 2 PM et.
– Coinbase Assets 🛡️ (@coinbaseSesets) May 1, 2025
Coinbase SAID IT HAS ALREADY SWITCHED ITS ORDER Books to “Limit-Only Mode” For Move Tokens, Meaning Trades Will Only Be Execurated at Certain Prices, Racher Thona.
Read More: Inside Movement’s Token-Dump Scandal: Secret Contracts, Shadow Advisers and Hidden Middlemen
Update (May 1, 2025, 17:18 UTC): Adds Additional Context.
