Coinbase Delisting Sparks Market Manipulation Scandal: Co-founder Suspened

Cryptocurrency markets continue to experience volatility with the latest developments centered around Movement Labs, the company behind the MOVE token. Following Coinbase’s delisting decision citing market manipulation claims, Movement Labs has suspended its co-founder Rushi Manche and initiated a third-party investigation into the incident. This action follows Binance’s own revelations that a large portion of MOVE tokens were sold by Rentech, a market maker, leading to a substantial profit for them at the expense of price manipulation. 66 million MOVE tokens were sold by this market maker and removed from Binance in response to their actions.