Movement Labs and the Foundation conduct "Investigation" on "Abnormal Behavior of Market Makers"

PANews reported on April 16 that Movement Labs and Movement Network are investigating after market makers last month, according to Blockworks. At that time, Binance removed an unnamed market maker due to "misconduct" in MOVE tokens. A Movement Labs spokesman confirmed: "The Movement Network Foundation is launching a third-party review of recent abnormal behavior of market makers, which is a standard best practice to ensure full transparency and accountability. It is inappropriate to speculate on the results of the review or actions that may or may not be taken. Business is going on during the review."

In addition, several sources revealed that Movement Labs co-founder Rushi Manche has temporarily left the company and its return date is uncertain. Movement co-founder Cooper Scanlon announced Manchester's "temporary leave" at a general meeting on Monday. Additionally, the company held an on-site event in San Francisco last week, but Manchester was not present. Manchester responded that he was "still at" Movement Labs. However, neither Manche nor Movement Labs responded specifically to confirmation questions about whether he was on vacation. In addition, his Slack account appears to have been out of service for several days, but it has been re-launched as of Monday night.

Related reading: The questioning under the "victory" of Movement's rights protection: Binance's late justice and the project party's "blame" mystery