The rapid developments surrounding Movement Labs have intensified, resulting in significant losses for holders of the MOVE token. Following the announcement by Coinbase to delist the MOVE token, new events have further deepened these losses.

Tensions within the Movement Labs ecosystem have persisted for over a month, primarily due to issues related to market maker activities. After Coinbase revealed its intention to delist the MOVE token, Movement Labs suspended Rushi Manche, one of its co-founders, which opened the door for investigations into market makers.

The current controversy revolves around an alleged scandal involving Web3Port, a market maker accused of dumping 66 million MOVE tokens. This incident triggered a 20% drop in the MOVE token's price. Additionally, Binance imposed penalties on a market maker associated with the Movement project for violating trading regulations, freezing its earnings.

Movement Labs recently initiated a third-party investigation into claims of misconduct by market makers concerning the MOVE token. Notably, this investigation commenced during Manche's temporary leave. Despite these actions, Manche disputed reports of his departure from the project.

Manche addressed rumors about his status on Slack, asserting his continued involvement and participation in weekly ecosystem meetings. Although his Slack profile, which sources indicated had been temporarily deactivated, appeared to have been restored recently.

This latest development involving his suspension suggests the seriousness of the situation, possibly influenced by new findings from the ongoing third-party investigation. Questions now focus on the vetting process for liquidity partners and the future of the Movement ecosystem, raising concerns about Movement Labs' internal controls.

Thapaliya, founder of Zebec Protocol, has known Movement Labs co-founders Rushi Manche and Cooper Scanlon since college. He provided advice to Movement Labs, especially around the launch of their MOVE token, including assisting with curating the airdrop whitelist.

Thapaliya's role came under scrutiny following a controversial market-making agreement with Rentech, which resulted in a $38 million token sell-off scandal in December 2024. There are speculations that Thapaliya was included in key emails regarding the Rentech deal. Some suggest his influence as a \"shadow third co-founder\" may have impacted last-minute decisions. However, Thapaliya has denied having any formal role, equity, tokens, or decision-making power in Movement Labs or the Movement Foundation.

While Thapaliya has yet to comment on recent developments involving Manche's suspension, Manche recently committed to offering clarity. In a detailed post, Manche accused \"opportunistic administrators\" acting as shadow decision-makers within the foundation of misleading the team.

Encouraging founders to collaborate with reputable firms that do not pursue their own agendas, Manche emphasized that the Movement had strayed significantly from its original vision. It remains unclear whether this revelation contributed to his suspension, as Manche did not immediately respond to BeInCrypto's request for comment. However, following his remarks, the MOVE airdrop (Movedrop), scheduled for April 30, was postponed.

As Movement Network's credibility and reputation continue to face challenges, the MOVE token has fallen by nearly 22% in the past 24 hours. At the time of writing, it has extended the decline triggered by the Coinbase delisting announcement, currently trading at $0.20.

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