Movement Labs Suspends Co-Founder Amidst MOVE Token Controversy

Movement Labs has suspended its co-founder, Rushi Manche, amid an investigation into the governance of the company and a market manipulation scandal involving the MOVE token. Following the allegations, the MOVE token saw a 20% drop in value. Market makers were accused of orchestrating a dump of over 5% of the MOVE supply, which triggered a sharp price decline.