MOVE Falls 50% in a Month Plagued by Controversy and Scandal

By: defi news|2025/05/04 00:15:02

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The team behind Ethereum Layer 2 (L2) Movement (MOVE) confirmed the suspension of its cofounder, Rushi Manche, on May 2, amidst a third-party investigation surrounding governance and a market making scandal.The news comes less than one month after it was reported that Manche took a temporary leave from the company, which sparked a sharp selloff in the MOVE token. Rushi was quick to dismiss the reports on X.MOVE is down over 50% over the last 30 days, and almost 25% over the last week, despite the rest of the market’s strong performance.To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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