Movement Labs Cuts Ties With Co-Founder After Market-Making Scandal—MOVE Plummets 20% Post-Coinbase Delisting

Another day, another crypto scandal—this time with Movement Labs in the hot seat. The blockchain firm suspended its co-founder amid allegations of shady market-making practices. Cue the predictable fallout: MOVE token nosedived 20% after Coinbase gave it the boot. Just another reminder that in crypto, the house always wins—until the SEC comes knocking.

Market makers manipulating prices? Groundbreaking. Meanwhile, retail investors are left holding the bag—classic Wall Street playbook, now with extra blockchain buzzwords. The delisting hammer drops, liquidity evaporates, and the ’decentralized’ dream looks more like a pump-and-dump scheme. But hey, at least the lawyers are getting paid.

The price action is still below all of the major moving averages, and the relative strength index is NEAR 32, suggesting that the bearish momentum is still present. The volume spike, which shows that traders are reacting strongly to the recent news, adds volatility to an already unstable chart. The project’s credibility now hinges on transparency and the results of the ongoing review.