Movement laboratories today announced at X that it had suspended co -founder Rushi Manche.
The move to suspend Manche comes when Coinbase delisted the Move token, after Coindesk reported that movement laboratories are investigating how a market manufacturer tied to web3 port acquired and dumped over 5% of the token supply, which triggered a pricing accident.
We confirm that Rushi Manche has been suspended from movement laboratories. This decision was made in the light of ongoing events, and as the third -party review is still implemented by Groom Lake regarding organizational government and recent events involving a market manufacturer.
– Movement (@movementlabsxyz) May 2, 2025
Binance had previously banned the market manufacturer in the center of this, Web3port, from its platform.
The moving token is down approx. 20% a day, according to Coindesk market data.
