Coinbase Suspends Trading of the MOVE Token on May 15

Coinbase is suspending trading for the MOVE token on May 15, 2025, the exchange shared in a post on X on May 1. Coinbase explained the token no longer meets its listing standards.

The token is native to Movement Labs’ layer-2 blockchain protocol. Coinbase confirmed the trading halt will affect its Simple and Advanced Trade platforms, Coinbase Exchange, and Coinbase Prime. According to the statement, all MOVE order books have moved to limit-only mode. Limit orders can be placed and canceled, but trades will only match existing orders.

The price of the MOVE token dropped from around $0.25 to nearly $0.18 following Coinbase’s announcement. As of May 2, it trades at approximately $0.195. The chart shows a sharp decline beginning late on May 1, with high selling volume confirming the drop.

MOVE Investigation Launched After $38M Sell-Off

The token trading suspension follows an ongoing MOVE investigation into a market-making deal between Movement Labs and Web3Port. A report from CoinDesk on April 30 stated that the Movement Network Foundation launched the review on April 21.

At the center of the MOVE investigation is a deal involving Rentech. According to reports, Rentech acted on both sides of the agreement—as a subsidiary of Web3Port and as an agent of the Movement Foundation. The arrangement reportedly gave Rentech control of over 66 million MOVE tokens.

Following the MOVE token launch, Rentech allegedly sold those tokens, causing $38 million in downward pressure on the price. The token has remained in a decline since January 2025.

Coinbase Decision Comes Amid Ongoing MOVE Review

Coinbase has not directly linked the MOVE token trading suspension to the market-making controversy. However, the exchange referenced its listing standards, which include compliance, transparency, and market integrity. The MOVE token has struggled to meet these requirements.

The MOVE token has seen limited recovery since its initial crash in December 2024. Market data shows consistent downtrends and reduced activity. The current MOVE investigation is the first major public step by the Movement Network Foundation to address the token’s price history and distribution.

Coinbase has not indicated whether MOVE will be relisted. The full suspension will take effect on May 15, as order books remain in limit-only mode until then.