Coinbase Delists MOVE Token Amid Market Manipulation Scandal

Movement Labs’ MOVE token, once a $100 million project, faces a severe crisis as Coinbase delists it following allegations of manipulative trading practices. Co-founder Rushi Manche has been suspended, and retail investors are left reeling from a pump-and-dump scheme that caused prices to plummet. The scandal, which traces back to January 2025 funding rounds, raises significant concerns about governance in the blockchain space.

Move Coin Crash: How Pump and Dump Doomed a $100M Project

Movement Labs’ MOVE token faces a crisis as Coinbase delists it amid a market-making scandal. The project, once valued at $100 million, has suspended co-founder Rushi Manche following allegations of manipulative trading practices. Prices plummeted as retail investors found themselves trapped in a classic pump-and-dump scenario.

The controversy traces back to January 2025 funding rounds, raising questions about governance in blockchain startups. market makers allegedly inflated liquidity before abruptly withdrawing support, leaving holders with rapidly depreciating assets. Such incidents underscore the need for stricter exchange oversight in cryptocurrency markets.

Movement Token Faces Turbulence Amid Scandal and Exchange Delisting

Movement Network’s MOVE token trades at $0.18791390 today, caught between bullish technical projections and bearish fundamental developments. The modular blockchain protocol, designed to bridge Move and EVM ecosystems, shows long-term price potential with 2025 targets at $0.41985 and a 2030 projection of $3.18828.

Recent turbulence stems from Movement Labs suspending a co-founder following a $38 million token dump scandal. The situation worsened when Coinbase announced MOVE trading suspension effective May 15. These events have created significant volatility, testing investor confidence in what remains a technologically promising project.