Movement Labs has taken decisive action, suspending its co-founder Rushi Manche after allegations of a market-making scheme involving the MOVE token emerged. This scandal, impacting the cryptocurrency market’s integrity, has prompted significant reactions from both regulators and investors. 66 million MOVE tokens, linked to the alleged scheme, were identified by Binance during their investigation. While Binance has frozen suspicious transaction proceeds and alerted Movement Labs to irregularities, Coinbase responded by suspending MOVE trading effective May 15, 2025. This event is a stark reminder of the need for greater transparency within the crypto industry as concerns about market manipulation and financial engineering take center stage. Market instability has led to investor uncertainty regarding token valuations and market-making practices.