Movement Co-Founder "Steps Down Temporarily," Foundation Launches Investigation into Market Maker Anomalies
Rushi Manche, co-founder of Movement Labs, has "temporarily stepped down" due to a project dispute. Previously, a CEX suspended its partnership with a market maker for "manipulative behavior," where the market maker dumped around 38 million USD worth of MOVE tokens, posting only a small number of buy orders.
The Movement Network Foundation has launched a third-party investigation to review these "market maker anomalies." The foundation stated that it was previously unaware of the situation and has announced a buyback of 38 million USDT to replenish ecosystem liquidity.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
In the past 24 hours, several institutions transferred 24,740 ETH to CEX
VanEck Proposes Bitcoin-Linked Treasuries to Offset $14 Trillion US Debt
Data: Over $467 Million in Bitcoin Exits Exchanges in the Past 24 Hours
Trending news
MoreCrypto prices
More
