You Won’t Believe What Happened to MOVE Token After a $38M Dump 🚨

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Movement Labs and the Movement Network Foundation are hot on the case, launching a very official, very “we’ve got receipts!” internal investigation into shenanigans involving their MOVE token.

Apparently, the crypto gossip mill is working overtime. The project’s credibility is so shaken, you’d think it had just seen Bitcoin drop below $10K.

Movement Labs Dons Detective Hats for MOVE Token Mess

We’ve got a third-party review coming in hot (cue dramatic music), all because Binance went full Judge Judy and booted an anonymous market maker tied to MOVE.

BeInCrypto spilled the tea: Binance caught this market maker doing a casual $38 million dump of 66 million MOVE tokens right after launch. You know, just the usual Tuesday morning activity.

Chaos ensued. Prices tanked below $0.30. Investors clutched their pearls. Meme stocks looked tame by comparison.

The company fired off a Slack message about their investigation—because nothing says “crisis mode” like a Slack ping at 9 a.m.

Meanwhile, the Movement Network Foundation hired outside investigators for an audit, because who doesn’t love adding auditors to a party?

“This is standard best practice to ensure full transparency and accountability,” said a spokesperson, presumably while stress-eating pretzels. Also, if you’re waiting for penalties or consequences, take a number.

This all happens to line up with co-founder Rushi Manche’s so-called “temporary” leave. Apparently, Manche missed the San Francisco company offsite but assures everyone he’s still working from… somewhere on Earth. Rumors of his exit? “Fake news!” according to his X account, so, relax, crypto detectives.

“Very much still at Movement. Missed company offsite because I was in Asia for Web3Festival,” Manche said on X, probably while sipping bubble tea.

But because this story isn’t complicated enough, Manche’s Slack profile went AWOL for a second, then reappeared like a magician’s rabbit. Still, everyone’s on weekly calls, so nothing to see here, folks… supposedly.

Co-founder Cooper Scanlon is holding down the operational fort, assuring the world that the company is definitely still running, despite the price graph sobbing quietly in the corner.

With prices bleeding out and trust taking a nosedive, Movement Labs is at a crossroads: can a third-party audit pull them out of the PR dumpster fire? Grab your popcorn, because nobody really knows yet.

Binance Drops the Banhammer & Enter: The Web3Port Connection

Binance is keeping things spicy by declining to name names, but on-chain sleuth ZachXBT is doing their best Sherlock Holmes impression and pointing at Web3Port. (Crypto drama: now with even more subplots!)

If you thought this was the only token with drama, surprise! BeInCrypto just published a report suggesting market makers are out here causing chaos everywhere, with token dumps faster than you can say “rug pull.”

Oh, and Binance has recently banished other market makers for monkey business tied to GPS and SHELL tokens. Spoiler: shell companies were involved. (Because why break the rules under your actual name?)

Anyway, it’s just another thrilling episode of “As the Crypto Turns.” Stay tuned, and consider investing in stress balls. 😬

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2025-04-16 10:52