**📉🔥 MOVE Token Falls to All-Time Low After Coinbase Delisting!**
### **🚨 What Happened?**
- **Coinbase announces delisting of MOVE** starting May 15 due to **failure to meet listing standards**.
- MOVE price **plummeted 23% to $0.18** (ATL) and is down **84% from ATH $1.21 (Dec 2024)**.
- **Order book enters limit-only mode**, meaning users can only cancel/create orders without new executions.
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### **🔍 Market Making Scandal Worsening the Situation**
- **Movement Labs suspends co-founder Rushi Manche** related to the investigation of **suspicious market making activities**.
- **Binance freezes funds related to market makers** suspected of massive selling of MOVE in December 2024.
- **Web3Port & Rentech** are mentioned as parties involved in **the sale of 66 million MOVE** that triggered a price dump.
- **Movement Labs launches a $38 million buyback** to restore confidence.
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### **💬 Reaction from Movement Labs Founder**
Rushi Manche expressed **disappointment with the current direction of the project**:
> *"Movement has strayed far from my initial dream. We trusted the wrong advisors & market makers, who turned out to have hidden financial motives."*
- He claims to **never have sold personal MOVE** and all funds were used for project development.
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### **🛠️ Recovery Steps**
- **Audit by Web3 intelligence firm (Groom Lake)** for an independent investigation.
- **Implementation of new governance policies** based on audit results.
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### **⚠️ Lessons for Investors**
- **Delisting from major exchanges like Coinbase can trigger panic selling**.
- **Important to research teams & project transparency** before investing.
- **Market manipulation can occur**, even involving internal parties.
**#Move #coinbase #DelistingNotice #CryptoScandal #MarketManipulation 📉**
*Disclaimer: Not financial advice. Trading crypto is high-risk!*
