Coinbase Delists運動（移動）在市場操縱醜聞之後令牌

在洩漏了有關代幣市場操縱和令牌治理問題的報告後，Coinbase將加密貨幣從其交易平台上脫穎而出

Coinbase, the leading crypto exchange in the U.S., has suspended trading for Movement (MOVE) and eventually delisted the cryptocurrency from its trading platform on May 15, 2025. This follows leaked reports of MOVE token market manipulation and issues with token governance.

Coinbase是美國領先的加密交易所，已暫停移動（移動）的交易，並最終於2025年5月15日將加密貨幣從其交易平台上脫穎而出。這是隨後洩露的有關Move Move Move Move Move Market操縱以及令牌治理問題的報導。

Coinbase assesses each token's business viability, technical security, and regulatory compliance before listing it on its trading platform. The exchange also continuously monitors listed tokens to ensure they adhere to its standards. Following the Movement Labs scandal, Coinbase set MOVE to limit-only trading, restricting users from opening market orders on the platform.

Coinbase在將其在其交易平台上列出之前，評估了每個令牌的業務生存能力，技術安全和監管合規性。該交易所還不斷監視列出令牌，以確保它們遵守其標準。在運動實驗室的醜聞之後，Coinbase設置為僅限限制交易，從而限制了用戶在平台上打開市場訂單。

Suspicious Market-Making Contract Prompts Investigation

可疑的營銷合同提示調查

In December 2024, market maker Web3Port had liquidated 66 million MOVE tokens at a $38 million profit. The selloff occurred just one day after MOVE was listed on major exchanges, which disrupted buy-side stability and prompted global crypto exchange Binance to investigate.

2024年12月，做市商Web3Port以3800萬美元的利潤清算了6600萬美元的搬遷令牌。拋售發生在移動後一天僅在主要交易所中列出的一天，這破壞了買方穩定性，並促使全球加密貨幣交易所進行調查。

Soon, Binance offboarded the market maker involved in the MOVE token selloff, freezing Web3Port’s profits to potentially compensate affected investors.

很快，Binance卸下了參與Move代幣拋售的做市商，將Web3Port的利潤凍結，以補償受影響的投資者。

Following the market maker’s termination, leaked documents revealed abnormal market-making deals between the Movement Foundation and Rentech, a middleman with no digital footprint. Initially, Rentech proposed a market-making contract allowing it to control 5% of MOVE’s total token supply.

在做市商的終止之後，洩漏的文件顯示，運動基金會與沒有數字足蹟的中間人Rentech之間的營銷協議異常。最初，Rentech提出了一項營銷合同，允許它控制Move總供應量的5％。

The deal also had other unusual clauses, including a provision enabling Rentech to liquidate its MOVE allocation if the crypto’s fully diluted market capitalization reached $5 billion, distributing half of the profits to the Movement Network.

該交易還具有其他不尋常的條款，包括一項規定，如果加密貨幣的完全稀釋的市值達到50億美元，則可以使Rentech清算其移動分配，並將一半的利潤分配給了運動網絡。

Lack of Transparency and Mismanagement Within Movement Labs

運動實驗室內缺乏透明度和管理不善

Before Movement signed a revised version of Rentech’s market-making deal in December 2024, another leaked contract showed a previous agreement between Web3Port and Movement, but with Rentech serving as a representative of Movement Labs.

在運動於2024年12月簽署了Rentech的營銷協議的修訂版之前，另一份洩露的合同顯示了Web3Port和運動之間的先前協議，但Rentech擔任運動實驗室的代表。

The pre-existing contract was tied to Movement shadow advisers, who were allegedly given control of up to 10% of MOVE’s total token supply. These allegations, along with the $38 million liquidation controversy, ultimately led to the termination of Movement co-founder Rushi Manshe on May 7, 2025.

現有的合同與運動影子顧問有關，據稱他們控制了Move總供應量的10％。這些指控以及耗資3800萬美元的清算爭議最終導致運動聯合創始人Rushi Manshe於2025年5月7日終止。

Coinbase Delisting Induces 20% MOVE Token Price Drop

Coinbase delisting誘導20％的代幣價格下跌

After Coinbase’s decision to delist MOVE, the Ethereum L2 crypto’s price dropped by 20%, pushing the token to trade within the $0.20 to $0.18 range. As a result, MOVE’s market capitalization fell below $500 million, placing it in the low-cap crypto category.

在Coinbase決定遷移的決定之後，以太坊L2加密貨幣的價格下跌了20％，將令牌推向了0.20美元至0.18美元的交易。結果，Move的市值低於5億美元，將其置於低盤加密類別中。

The decline in the MOVE token’s price during bullish momentum in the crypto market is even more surprising. Bitcoin (BTC) experienced an uptick to the $97,000 mark, and while a large inflow of investments filled the digital asset industry, MOVE’s price continued to collapse.

在加密市場中，在看漲勢頭期間，令牌的移動下降幅度更加令人驚訝。比特幣（BTC）經歷了97,000美元的上漲，儘管大量投資充滿了數字資產行業，但Move的價格繼續崩潰。

Movement’s Crash: Promising L2 Crypto Turned Nightmare Investment

機芯崩潰：有希望的L2加密轉變為噩夢

In early 2025, Movement Labs was aiming for a $100 million Series B funding round, which would value the company at $3 billion. At the time, MOVE had already reached an all-time high price of $1.45 per token, and its crypto market cap was $2.5 billion.

在2025年初，運動實驗室的目標是進行1億美元的B系列資金回合，這將使該公司的價值為30億美元。當時，Move已經達到了每個令牌的歷史高價1.45美元，其加密市政上限為25億美元。

Crypto retail investors rushed to secure MOVE tokens and invest in the future of Ethereum Layer 2 technology. However, poor market conditions, mainly the Movement Labs scandal, put downward pressure on the token’s price, which is still being felt today. According to Coingecko’s analysis of the MOVE token, the crypto has dropped 87.5% from its all-time high.

加密散戶投資者急於確保“移動”代幣並投資以太坊2層技術的未來。但是，較差的市場狀況，主要是運動實驗室醜聞，對代幣的價格施加了向下壓力，如今仍在感受到。根據Coingecko對MOVE代幣的分析，該加密貨幣已從其歷史最高的高度下降了87.5％。

How MOVE’s Controversy Affects Future Listings

Move的爭議如何影響未來的列表

Coinbase’s decision to remove MOVE from live trading has several implications, both for upcoming Coinbase listings and currently listed tokens. For new crypto assets, the platform might raise its crypto exchange listing standards, ensuring that internal token governance issues are appropriately considered.

Coinbase決定從實時交易中搬遷的決定對即將到來的Coinbase列表和當前列出的令牌有多種影響。對於新的加密資產，該平台可能會提高其加密貨幣交易所上市標準，以確保適當考慮內部令牌治理問題。

As Coinbase explains in the introduction to its listing process, the available tokens are subject to ongoing monitoring to ensure continued compliance with the listing standards. With the rise of delisted crypto assets from top exchanges, regulatory bodies responsible for regional cryptocurrency market access may add new vetting requirements for trading platforms.

正如Coinbase在其上市過程的簡介中所解釋的那樣，可用的代幣將受到持續的監控，以確保繼續遵守上市標準。隨著最高交易所的加密資產的興起，負責區域加密貨幣市場訪問的監管機構可能會增加交易平台的新審查要求。

What’s Next for MOVE Token Holders?

Move代幣持有人的下一步是什麼？

Following the case of MOVE crypto market manipulation, the Movement Foundation has announced a third-party audit on the market maker and its external activities. Current MOVE holders should keep abreast of any news and results regarding the external review and official announcements on Movement’s new governance.

在Move Crypto市場操縱的情況下，運動基金會宣布了對市商及其外部活動的第三方審核。當前的移動持有人應了解有關移動新治理的外部審查和官方公告的任何新聞和結果。

Moreover, investors are advised to stay tuned for the Movement’s new leadership following Manshe’s departure. As of May 7, Movement announced new leadership under Move Industries, which includes early Movement Labs employees and two of the crypto’s founding leaders.

此外，建議投資者在曼斯（Manshe）離開後繼續關注該運動的新領導。截至5月7日，運動宣布了Move Industries的新領導，其中包括早期運動實驗室員工和Crypto的兩個創始領導者。

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Final Thoughts: Why Clean Governance is Important

最終想法：為什麼清潔治理很重要