Movement Labs and the Movement Network Foundation have initiated an internal investigation into alleged market maker misconduct involving their native token, MOVE. Following claims that have impacted the project's credibility and investor trust, the investigation, supported by a third-party review, comes after Binance's decision to ban a market maker linked to MOVE. The incident, reported by BeInCrypto, revealed that the market maker sold 66 million MOVE tokens worth $38 million post-listing, causing a significant price drop. Movement Labs communicated the investigation internally and commissioned an audit for transparency and accountability. Co-founder Rushi Manche's temporary absence coincided with the investigation, although he denied reports of leaving. Despite uncertainties, co-founder Cooper Scanlon assures normal operations. The investigation aims to restore confidence amidst concerns about internal controls and the MOVE ecosystem's future. This case adds to worries about market maker practices in crypto, emphasizing the need for transparency and oversight. Read more AI-generated news on: https://app.chaingpt.org/news