$MOVE DUMPED over 25% in a few hours yesterday — and it’s now down 85% from ALL TIME HIGH.
⇛Coinbase is delisting it on May 15th
⇛Binance just banned one of its market makers
⇛Co-founder suspended & Airdrop delayed.
$MOVE started strong — a hyped L2 built on Meta’s Move programming language. It promised to bring security and performance to Ethereum.
$MOVE raised $41.40M and it's backed by @polychain and @yzilabs among others.
➫ Even Trump-backed World Liberty Financial held the token.
But then... things went sideways.
Right after its launch in Dec 2024, wallets linked to Web3Port and Rantech sold 66M MOVE tokens.
That’s over 5% of total supply — DUMPED.
This triggered a massive selloff.
—Price collapsed, confidence was shattered.
But that wasn’t all.
Coinbase started digging.
—What they found?
A huge conflict of interest and shady token flows.
Rantech — originally thought to be part of Web3Port — was actually tied to the Movement Foundation itself.
That’s right.
A market maker tied to the project dumped on the community.
Possibly with inside access.
Coinbase didn’t wait.
They announced the
#MOVE delisting on May 15 — saying the project failed to meet listing standards.
—Meanwhile, Movement Labs suspended co-founder Rushi Manche.
🔻Damage control mode🔻
Binance followed up by banning Rantech’s market-making account entirely.
Accusations of manipulation, conflicts, and rug behavior flew around.
The really happened after the BAN?
MOVE dumped hard again.
The airdrop everyone was waiting for? Delayed
➢Community? Furious
➢Investors? Nervous
➢Project? Imploding
#MOVElooked like the next big L2.
Instead, it became a case study in VC greed, poor transparency, and internal chaos. Some still believe
#move will recover.
Maybe the team will regroup.
Maybe new leadership will fix the mess.
But until then...
It’s a red flag project with trust to rebuild.
If you're holding
$MOVE , ask yourself:
—Is the team transparent?
—Can they restore trust?
—Will exchanges noise.