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Movement Labs suspends co-founder following MOVE market turmoil

Coin Telegraph LogoCoin Telegraph20h ago

Movement Labs suspends co-founder following MOVE market turmoil - Coin Telegraph

Quick Summary:

Related: Citadel Securities eyes market-making role for crypto exchanges: ReportMarket makers are a controversial player in cryptoAccording to a recent analysis, the right market maker can be a launchpad for a cryptocurrency project, opening the door to major exchanges and providing valuable liquidity to ensure a token is tradeable.

Another notable example is a Wall Street Journal report claimed that DWF Labs, one of Binance’s largest trading clients, engaged in market manipulation, wash trading and inflated trading volumes amounting to $300 million through deals with crypto projects.

Source: MovementThe suspension came after a recently announced third-party review requested by the Movement Network Foundation into an agreement orchestrated by Manche with Rentech — the latter helped broker an agreement with market maker Web3Port.

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Article Details

Author / Journalist: Cointelegraph by Adrian Zmudzinski

Category: Crypto

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-02 @ 10:53:28 (20 hours ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 483 words

Reading Time: 3 minutes read

Sentences: 21 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 28319123

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About Coin Telegraph

Coin Telegraph Logo

Main Topics: Crypto

Official Website: cointelegraph.com

Update Frequency: 26 posts per day

Year Established: 2013

Headquarters: United States

News Last Updated: 7 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #11

Publisher Details

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