Coinbase Announces Delisting of MOVE Token Following Market Manipulation Concerns

Coinbase has decided to delist the MOVE token effective May 15, 2025, after a thorough review of its listing standards. This move comes amid growing concerns over market manipulation linked to Movement Labs’ $38 million selloff, which was tied to a disputed market-making agreement. Internal documents have raised questions about potential conflicts of interest, leading to a third-party investigation. The announcement caused the MOVE token’s price to drop by 20%, reducing its market capitalization to below $500 million. This decision underscores Coinbase’s commitment to maintaining integrity and transparency in the cryptocurrency market.

Coinbase to Delist MOVE Token Amid Market Manipulation Concerns

Coinbase announced the delisting of the MOVE token effective May 15, following a review of listing standards. The decision comes amid scrutiny over Movement Labs’ $38 million selloff tied to a disputed market-making agreement.

Internal documents suggest potential conflicts of interest, prompting a third-party investigation. The MOVE token price dropped 20% on the news, eroding its market capitalization below $500 million.

Trading suspensions raise broader questions about Movement Labs’ token distribution practices and governance framework. Coinbase’s move underscores tightening compliance measures across major exchanges.

Movement Labs Suspends Co-Founder Amid MOVE Token Scrutiny

Movement Labs, the developer behind a high-profile layer 2 blockchain project, has suspended co-founder Rushi Manche following a third-party review of governance issues and questionable market activity involving its MOVE token. The move comes as Coinbase prepares to halt trading of the token on May 15, shifting its order books to limit-only mode.

While Coinbase cited routine listing standard reviews for its decision, the timing aligns with growing regulatory scrutiny of altcoins. The suspension highlights the increasing pressure on blockchain projects to maintain transparency as institutional adoption accelerates.

Coinbase Exec Proposes U.S. Gold Revaluation to Fund $100B Bitcoin Acquisition

Sebastian Bea, President of Coinbase Asset Management, has floated a provocative idea in Washington’s financial circles: a strategic revaluation of U.S. gold reserves could unlock $100 billion for Bitcoin purchases without impacting the federal budget. The proposal, discussed on The Scoop podcast, suggests adjusting the accounting value of America’s gold stockpile—currently held at a historic $42.22 per ounce—to modern market prices.

This financial engineering would create a war chest sufficient to make the U.S. government one of Bitcoin’s largest institutional holders overnight. Bea’s plan emerges as BTC faces a critical technical juncture—analysts note the cryptocurrency must decisively break through the $95,000-$96,000 resistance level to confirm its next bullish phase.

Movement Labs Suspends Co-founder Amid Market Maker Scandal, MOVE Token Plummets 22%

Movement Labs has suspended co-founder Rushi Manche following allegations of market manipulation involving a third-party market maker. The decision comes as Coinbase announced plans to delist the MOVE token, exacerbating a 22% price drop.

Web3Port, the implicated market maker, allegedly dumped 66 million MOVE tokens, triggering a 20% crash. Movement Labs has engaged Groom Lake to conduct an independent review of governance practices and the incident.

The controversy has cast a shadow over the Movement Labs ecosystem, with sentiment deteriorating over the past month. The suspension underscores growing scrutiny of market Maker activities in crypto projects.