Coinbase Delists MOVE Token Amid Market Manipulation Allegations
Coinbase has suspended trading of the Movement (MOVE) token following allegations of market manipulation, which led to a massive $38 million liquidation. The exchange had previously restricted MOVE trading to limit-only orders before ultimately delisting the token on May 15, 2025. Movement Labs has since engaged a third-party auditor to investigate the incident, which saw 66 million MOVE tokens dumped in a single day, raising concerns over retail investor impact.
Coinbase Delists MOVE Token Following Controversial $38M Market Maker Liquidation
Coinbase suspended trading of Movement (MOVE) tokens on May 15, 2025, after allegations of market manipulation. Reports indicate 66 million MOVE tokens were dumped in a single day, sparking concerns over retail investor impact. Movement Labs has engaged a third-party auditor to investigate the incident.
Prior to the delisting, Coinbase restricted MOVE trading to limit-only orders, signaling growing scrutiny of the ethereum Layer 2 project. The exchange’s actions follow a November 2024 market-making agreement between Rentech and Web3Port, with Rentech representing Movement Labs.
Coinbase Data Leak Sparks Outrage, Investor Warns of Dire Consequences
Michael Arrington, an early Coinbase investor and TechCrunch founder, has issued a scathing critique of the exchange’s recent data breach. The leak exposed sensitive customer information including home addresses and account balances—a failure Arrington claims could have lethal consequences.
’This will lead to people dying,’ Arrington stated in a blistering social media post. His remarks underscore the gravity of the breach, which he believes transcends financial losses. The $400 million theft pales in comparison to the potential human cost, he argued.
The incident raises critical questions about crypto exchange security protocols. As a long-time Coinbase advocate, Arrington’s condemnation carries particular weight. His call for executive accountability—including potential jail time—signals growing impatience with recurring security failures in digital asset platforms.
Bitcoin Defies US Credit Downgrade and Coinbase Woes as Retail Investors Fuel Rally
Bitcoin’s resilience shines as Moody’s US credit rating downgrade and Coinbase’s regulatory challenges fail to dent its upward trajectory. The cryptocurrency briefly wobbled on the ratings news but quickly recovered, buoyed by a surge in retail investor activity mirroring the US stock market’s momentum.
HSBC analysts note the US-China trade détente has structurally elevated global risk appetite, creating fertile ground for digital assets. Retail traders appear indifferent to slowing US growth and a hawkish Fed, chasing momentum in both S&P 500 and crypto markets. Morgan Stanley’s dip-buying recommendation further accelerates the rally.
