Movement Labs Launches Investigation into Market Maker Issues Following Binance Action
Movement Labs and Movement Network are investigating market maker issues linked to the MOVE token following Binance's removal of an unnamed market maker for misconduct. Key points include:
- A third-party review is underway to ensure transparency.
- Co-founder Cooper Scanlon stated various investigation routes are being explored.
- Rushi Manche, co-founder, is on temporary leave; his return timeline is unclear.
- Operations at Movement Labs continue normally despite the investigation.
- The investigation follows Binance's disclosure of irregularities related to the MOVE token.
- Web3Port has been suggested as a potential link to the market maker involved.
Binance has not commented further on the situation.