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As I’m writing this, fresh headlines are putting even more pressure on market makers.
Just yesterday, Coinbase announced it is suspending the trading of MOVE, a token at the center of a growing market-making scandal.
Following MOVE’s launch last December, a market maker reportedly dumped 66 million tokens, walking away with $38 million in USDT. Binance froze the funds in March, flagged the issue, and alerted the project team.
The fallout? Delistings, damage control, and now — a leadership shakeup.
Movement Labs has since suspended its co-founder, Rushi Manche, after leaked agreements revealed that the market maker was granted control of roughly 5% of MOVE’s supply — with terms that incentivized aggressive price appreciation. The arrangement raised serious concerns and prompted a full investigation.
This is exactly why ethical execution — and choosing the right market maker — matters. In crypto, a single bad deal can cost a project everything: from listings to legitimacy.
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