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A lot has happened since I last wrote on Movement. At the time, the chain was not live.
About a month later, on April 15, Blockworks’ Katherine Ross and Jack Kubinec broke a story on market maker “misconduct” around the project’s MOVE token on the Binance exchange.
The market marker was alleged by ZachXBT to be linked to market making firm Web3Port. At the time, MOVE traded at $0.29, about 74% down from its highs of $1.12 in December.
Movement Labs co-founder Rushi Manche was also reportedly taking a “temporary leave” from the company, a claim that Manche neither explicitly…
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