In the world of crypto, where an innovation emerges every day, a small mistake can completely ruin a project. Something similar happened with Movement Labs’ MOVE Token, which at one time became very popular among investors, especially when it raised $100 million in funding with CoinFund and Nova Fund in January 2025. But in just a few months, things changed so rapidly that now this project is in the grip of a major controversy.
Delisting of Coinbase and the controversy it sparks
The controversy over the MOVE Token started when Coinbase suddenly delisted it from its platform. According to the information, trading of the token will be completely stopped from May 15. Taking a big decision after this delisting, Movement Labs suspended its co-founder Rushi Manche. This suspension of Rushi Manche was done due to the alleged market-making scam. The name of the company Rentech has come to the fore behind this scandal, which was wrongly represented as a subsidiary of Web3Por.
It is reported that Rentech was handed over about 5% of the total supply of MOVE Token, and in return, the company was encouraged to make a profit by taking the value of the token to $5 billion. Experts say that this deal is one of the worst deals ever, and there are many signs of self-dealing in it.
Market-making scheme or pump and dump?
The lack of transparency in the crypto market has caused harm before, but what happened with MOVE Coin can be described as a classic “pump and dump” scheme. According to reports, in December, a shady market maker dumped nearly $38 million worth of MOVE tokens into the market, causing prices to plummet.
This strategy is an old method of attracting investors to push the prices up and then suddenly selling the tokens to make a profit, which is not only illegal but also completely breaks the trust of investors. The price of MOVE Crypto has fallen from an all-time high of $1.45 to $0.1881, which represents a decline of about 87.01%.
Lessons for investors and possible future
This entire incident has once again proved how important it is to understand the transparency, tokenomics, and marketing strategy of the founders before investing in any crypto project.
Although Movement Labs has taken action by suspending Rushi Manche, it is difficult to save the project’s falling reputation. This week, MOVE’s price has fallen by 24% and its market cap is now just around $470 million.
If Movement Labs manages to regain trust with transparency and new leadership in the coming weeks, the project may show some recovery. But for now, investors should remain cautious and assess the situation. If you want to know the MOVE Token Price Prediction, click the link.
Despite $100 million in funding and rapidly growing popularity, the MOVE Coin crash is a bitter lesson that hype or big investments alone cannot sustain a project for long. Trust, governance, and long-term vision are the real capital of any crypto project.
If you invested in MOVE due to FOMO, now is the time to be cautious and do proper research. What you see in the crypto market is not always the truth.