According to Wu, Movement Labs is investigating whether it was misled into signing a market-making agreement that gave middlemen control over 66 million MOVE tokens, leading to a $38 million sell-off after the token’s debut. Rentech appeared twice in the transaction, once as a subsidiary of Web3Port and once as an agent of the Movement Foundation. Foundation officials called the agreement “probably the worst” they had ever seen, incentivizing people to drive up the price of MOVE before dumping the tokens to retail investors.