#BTCRebound #StablecoinPayments #BinanceAlphaAlert #AirdropSafetyGuide $MOVE

The movement fell to an all-time low after Coinbase announced it would delist the Ethereum L2 token.

MOVE token unexpectedly dropped 14% on Wednesday after Coinbase announced it would suspend trading in Movement.

MOVE, the native token of Ethereum's layer 2 network, Movement, fell to an all-time low on Thursday after major cryptocurrency exchange Coinbase announced it would suspend trading of the token this month.

We regularly monitor assets listed on our exchange to ensure they meet listing criteria. Based on recent reviews, we will suspend trading in Movement (MOVE) stock on May 15, 2025, at approximately 2:00 PM EST, according to the exchange's announcement on its Twit.tr platform.

The value of the MOVE token fell by about 14% on the day to $0.2079, according to CoinGecko, marking the cryptocurrency data platform's lowest price to date. Movement was launched in December to coincide with the project's mainnet beta launch.

We regularly monitor the assets listed on our exchange to ensure they meet our listing criteria. Based on recent reviews, we will suspend trading in Movement (MOVE) stock on May 15, 2025, at approximately 2 p.m. EST.

— Coinbase Assets 🛡️ (@CoinbaseAssets) ١ مايو ٢٠٢٥

Movement Labs and the Movement Network Foundation did not immediately respond to Decrypt's request, while a Coinbase spokesperson said the exchange had nothing to add beyond its Thursday commentary.

Coinbase's notice follows a report from CoinDesk earlier this week that Movement Labs, the project's developer, is conducting an internal investigation. The company suspects it may have been tricked into signing a market-making agreement that ultimately led to the sale of 66 million MOVE tokens on the open market.

Market makers facilitate market liquidity by placing continuous buy and sell orders for an asset, enabling buyers and sellers to execute trades at any time. Rentech, the company contracted by Movement, has denied allegations of misleading information.

While Binance did not explicitly name Rentech, the exchange notified users in late March that it had removed the market maker from its platform due to “misconduct,” which included selling 66 million MOVE tokens in December while placing “small buy orders.”

Within the Movement's official Telegram channel, members were dismayed by the token's planned suspension on Coinbase, wondering if the token team would "recover from this blow."

Ali Hosseini, community manager at Movement, said the suspension does not necessarily mean the listing will be removed, adding that Movement Labs is evaluating its options.

"The listing will not be delisted [...] trading will only be suspended," he wrote. "The team is actively working to negotiate with Coinbase and resolve the issues."

Editor's note: This story was updated after publication to add more details.

Binance stated that the market maker had made a profit of $38 million before being removed from the trading platform last month. Binance added that the company is now banned and that its profits have been frozen "for the purpose of compensating users."

Following the controversy, the Movement Network Foundation announced that it would use the funds to facilitate a buyback program and "establish the Movement's strategic reserve." In January, the price of MOVE surged after World Liberty Financial, a decentralized finance platform affiliated with US President Donald Trump and his family, purchased $1.9 million of the token.