Crypto exchange Coinbase has announced the suspension of trading for the Movement Network token (MOVE), the native cryptocurrency of the Movement layer-2 blockchain protocol, developed by Movement Labs. The suspension, effective May 15, was prompted by MOVE's failure to meet Coinbase's listing standards. The MOVE token experienced a 14.5% price decline in the last 24 hours. The decision follows a third-party review initiated by the Movement Network Foundation regarding an agreement between Movement Labs and a market-making firm, allegedly contributing to the token's price downfall in December 2024. The ongoing investigation, conducted by Groom Lake, has raised concerns over the MOVE token's price. The investigation revealed an agreement involving Rentech, Movement Labs, and Web3Port, leading to significant downward price pressure. As of early January 2025, the MOVE token has been on a downtrend, currently trading at approximately $0.20. Read more AI-generated news on: https://app.chaingpt.org/news