Market Cap
24h Vol
10071
Cryptocurrencies
58.26%
Bitcoin Share

Movement Labs Suspends Rushi Manche Amid Coinbase Delisting, Token-Dumping Scandal

Movement Labs Suspends Rushi Manche Amid Coinbase Delisting, Token-Dumping Scandal


CoinDesk
2025-05-02 03:16:47

Movement Labs announced today on X that it had suspended co-founder Rushi Manche. The move to suspend Manche comes as Coinbase delisted the MOVE token , after CoinDesk reported that Movement Labs is investigating how a market maker tied to Web3Port acquired and dumped over 5% of the token’s supply, triggering a price crash. Binance had previously banned the market maker at the center of this, Web3Port, from its platform. The MOVE token is down about 20% on the day, according to CoinDesk market data .


Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.