move token Archives - Coin Engineer

Movement Network Transfers 500 Million MOVE to Binance

Yigit Taha OZTURK — Tue, 06 May 2025 15:01:36 +0000

On May 6, the Movement Network Foundation announced via X (formerly Twitter) that it has transferred 500 million MOVE tokens to Binance for the second season of the Launchpool program. This move reflects the project’s ongoing momentum and opens up new earning opportunities for users.

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Binance Launchpool allows users to stake crypto assets and earn new tokens in return. The inclusion of MOVE in a second round reinforces the token’s growing relevance in the crypto ecosystem and its developers’ focus on liquidity and user engagement.

Growing Demand for MOVE Token

The MOVE token stands out for its role in Layer-2 scalability and DeFi applications. This massive transfer shows Movement Network’s ambitions and deepening ties with Binance, one of the world’s largest crypto exchanges.

Although the reward structure and staking conditions for this second season haven’t been fully revealed yet, the community response has been highly enthusiastic. Listing such a large quantity of MOVE tokens on Binance could significantly boost the token’s visibility and market activity.

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MOVE Token Crashed: Delisted by Coinbase, Airdrop Cancelled!

Yeliz Akmaca — Fri, 02 May 2025 09:43:47 +0000

Coinbase will delist the MOVE token on May 15, 2025.Following the decision, MOVE lost up to 20% of its value. In its statement, Coinbase said that assets are regularly evaluated and that MOVE no longer meets listing standards.

Coinbase Suspends MOVE Token

This sharp decline in MOVE came as a shock to investors, especially since it had only been listed on Coinbase a few months earlier. Following the development, MOVE’s price dropped to as low as $0.20.

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 around 2 PM ET.

— Coinbase Assets (@CoinbaseAssets) May 1, 2025

The long-awaited MoveDrop event was postponed again due to deteriorating market conditions. The postponement was announced on the day the airdrop was expected, causing significant disappointment among users who had been collecting points.

The MOVE team had prepared 740 million tokens for distribution. Additionally, 5% of the MOVE supply on Binance had been allocated for this airdrop.

Insider Selling and Market Manipulation Revealed

The MOVE token project initially appeared to be trustworthy. The project raised $40.4 million and built an ecosystem offering DeFi applications and developer tools. The platform had $122 million in total value locked and stablecoin liquidity of around $23 million.

However, MOVE collaborated with malicious market makers. A firm called Web3Port sold 66 million MOVE on Binance, causing the price to fall. Binance banned this firm. Later, the team partnered with Rentech, which artificially pumped the price and then applied selling pressure through aggressive sales.

Heavily promoted on social media, the MOVE token was also bought by the Trump family’s fund, World Liberty Fi. However, the fund sold all its MOVE tokens shortly after.

After being listed on major exchanges like Binance and Coinbase in December 2024, the MOVE token rose as high as $1.40. However, due to insider selling allegations and airdrop delays, the price plummeted. MOVE is currently trading at $0.0197.

Also, in the comment section, you can freely share your comments and opinions about the topic. Additionally, don’t forget to follow us on Telegram, YouTube and Twitter for the latest news and updates.

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Crisis at Movement Labs: 66M MOVE Dump Triggers Major Fallout!

Yigit Taha OZTURK — Fri, 02 May 2025 08:00:11 +0000

Movement Labs, one of the most promising Ethereum layer-2 projects, has suspended co-founder Rushi Manche amid mounting backlash over a controversial deal involving 66 million MOVE tokens dumped into the market.

Governance Under Fire

Allegedly, Movement Labs struck a market-making deal with Rentech, posing as an affiliate of Chinese firm Web3Port. Internal documents reveal Rentech represented both Web3Port and the Foundation itself, sparking conflict-of-interest concerns. The firm sold all its 66M MOVE tokens within 24 hours of launch, sending shockwaves through the crypto community.

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Reports claim Manche forwarded early drafts of the deal and maintained involvement with both Movement Labs and the nonprofit Foundation—despite their intended separation. Legal advisers reportedly called the deal “one of the worst” they’d ever reviewed, yet it proceeded, leading to massive market disruption.

Major Exchange Reactions

Binance responded by offboarding the market maker and freezing $38 million in proceeds, citing misconduct. Later, Coinbase announced it would suspend MOVE trading on May 15, further compounding the project’s turmoil.

Following these announcements, MOVE dropped 14% to $0.20, with a daily loss of 21%, according to Coingecko. A third-party governance audit by Groom Lake is underway to determine Manche’s role in the deal.

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Market Maker Misconduct Triggers Investigation at Movement Labs

Yigit Taha OZTURK — Wed, 16 Apr 2025 07:00:25 +0000

Following recent controversy involving its MOVE token, Movement Labs and the Movement Network Foundation have launched an internal and third-party investigation into market maker activity.

Third-Party Review Underway

According to internal Slack messages obtained by Blockworks, Movement co-founder Cooper Scanlon said the team is still “exploring various routes” of the investigation, with nothing definitive yet. A spokesperson confirmed that an external firm is involved but didn’t reveal its identity.

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Movement said the review is “a standard best practice to ensure full transparency and accountability.”

Co-Founder Manche Takes Temporary Leave

Multiple sources confirmed that co-founder Rushi Manche has taken a temporary leave of absence. He missed the company’s recent San Francisco onsite and was reportedly absent from Slack for a few days.

However, Manche told Blockworks he’s still active and conducting ecosystem meetings, claiming his Slack access was restored by Monday evening.

Binance Offboards Market Maker Over MOVE Token

This situation escalates just weeks after Binance removed a market maker over “misconduct” tied to the MOVE token. Although the exchange didn’t reveal the party’s name, crypto sleuth ZachXBT pointed toward Web3Port. Blockworks’ analysis shows Web3Port had recently engaged with Movement Labs’ content online.

The ongoing investigation marks a pivotal moment for Movement Labs. In a volatile industry like crypto, restoring trust through third-party reviews and transparent communication is crucial. Investors and community members should closely monitor developments as the investigation progresses.

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