$ETH Movement Labs suspends its co-founder after the turbulence in the MOVE market

Movement Labs has suspended its co-founder due to the reactions raised by a market-making agreement that he organized, which has led to an investigation by third parties and Coinbase's decision to remove MOVE from its listing.

Movement Labs has confirmed the suspension of its co-founder, Rushi Manche, following the controversies arising from an agreement with a market maker that he had negotiated himself.

Movement announced Manche's suspension in a post on X on May 2, explaining that the "decision was made in light of the ongoing events." The decision follows Coinbase's recent decision to suspend trading of Movement Network (MOVE), citing that the token does not meet its listing standards.