Markets, Move, Coinbase, News Movement Labs cites ‘ongoing occasions’ as the explanation for suspension. 

Movement Labs introduced at this time on X that it had suspended co-founder Rushi Manche.

The transfer to droop Manche comes as Coinbase delisted the MOVE token, after CoinDesk reported that Movement Labs is investigating how a market maker tied to Web3Port acquired and dumped over 5% of the token’s provide, triggering a worth crash.

Binance had beforehand banned the market maker on the heart of this, Web3Port, from its platform.

The MOVE token is down about 20% on the day, according to CoinDesk market data.

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