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

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

Source: The Defiant