Coinbase Announces It Will Delist the Movement (MOVE) Token

In a swift but decisive move, Coinbase announced it will delist the Movement (MOVE) token following rising concerns around crypto market manipulation and internal governance issues tied to Movement Labs.

Coinbase is planning to delist the Movement (MOVE) token from its exchange on May 15, 2025, following a series of internal governance concerns and crypto market manipulation.

The move comes after leaked documents revealed suspicious trading activity and a controversial market-making deal with Movement Labs, the company behind the Movement Network.

Coinbase had previously placed MOVE in a “limit-only” trading mode, where users can place limit orders but not execute market trades. This is usually a sign of an impending delisting.

The world’s largest crypto exchange is shutting down trading in the MOVE token on May 15, 2025, as part of an ongoing review of listed assets.

Coinbase had previously paused market trading in MOVE and placed the token in limit-only mode following a December 2024 incident where $38 million worth of MOVE tokens were sold.

The move was linked to a market maker, which is now terminated, and a series of internal decisions at Movement Labs, the company behind the Movement Network.

According to leaked documents and a whistleblower report, Movement Labs used internal funds to buyback MOVE tokens, allowing insiders to sell their own MOVE holdings in the open market without disclosing a conflict of interest.

This action sparked accusations of MOVE token market manipulation, which prompted Movement Labs to release a statement cutting ties with shady market makers and attempting to quell concerns.

However, further scrutiny revealed that Rentech, an early investor in Movement Labs, may have been involved on both sides of the potential market manipulation scheme.

Rentech’s dual role as an investor and market maker led to serious conflict-of-interest concerns, especially since the MOVE token buyback was not disclosed to the community.

To assess market-maker abnormalities and restore public trust, Movement Labs announced a third-party audit.

Coinbase crypto delisting follows troubling market activity

Announcing the upcoming MOVE token delisting, Coinbase said:

“After careful consideration, we have decided to delist Movement (MOVE) tokens from Coinbase on May 15, 2025. We will no longer support trading in MOVE on Coinbase Pro following the full delisting.”

The news had an immediate impact on the crypto market, causing the price of MOVE to drop.

From $0.20 on Friday morning, the token fell to as low as $0.18 in the following days.

Despite Bitcoin (BTC) rallying to over $97,000 at the time, the price of MOVE fell by 20%.

Additionally, Movement’s market cap fell below $500 million, its lowest point in months. The token has recently reclaimed its $500 million market cap level, as well as the price of $0.225.

Coinbase crypto delisting marks a low point for MOVE token

Launched in mid-2024, MOVE quickly gained traction and market appeal. The Ethereum Layer-2 crypto experienced an initial surge to $0.70 per token, which was followed by MOVE achieving an all-time high price of $1.45 later that year.

However, investor confidence began to erode, especially with the Movement Labs scandal and the upcoming Coinbase crypto delisting.

The move marks the most significant single-day loss for the token since its inception, and in turn, Movement Labs has terminated co-founder and then CEO Rushi Manche.

This situation also has broader implications for crypto exchange (CEX) listing standards, highlighting how CEXs vet new listings.

Regulatory bodies may also begin discussing the risks of listing early-stage crypto projects that have potential token governance issues.

While Coinbase and other major platforms claim to evaluate new tokens based on security, utility, and project transparency, the MOVE token case shows that the auditing process isn’s perfect.

For retail investors, this situation reinforces the need for proper due diligence and research before investing in cryptocurrencies.

What happens next after MOVE token delisting?

Once the MOVE token is delisted, trading on Coinbase will stop completely. To avoid any losses, users should transfer their MOVE holdings to other supported platforms or non-custodial wallets for safekeeping.

After May 15, token liquidity is expected to drop sharply, affecting many MOVE holders’ ability to exit their positions.

Some analysts have also speculated about potential regulatory implications or legal fallout, but no formal actions have been announced yet.

MOVE investors and retail traders will be monitoring how Movemenet Labs handles the situation over the next few months. Already, the company has stated that its network goals and initiatives will continue despite recent events.