Coinbase Delists运动（移动）在市场操纵丑闻之后令牌

在泄漏了有关代币市场操纵和令牌治理问题的报告后，Coinbase将加密货币从其交易平台上脱颖而出

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是美国领先的加密交易所，已暂停移动（移动）的交易，并最终于2025年5月15日将加密货币从其交易平台上脱颖而出。这是随后泄露的有关Move Move Move Move Move Market操纵以及令牌治理问题的报道。

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在将其在其交易平台上列出之前，评估了每个令牌的业务生存能力，技术安全和监管合规性。该交易所还不断监视列出令牌，以确保它们遵守其标准。在运动实验室的丑闻之后，Coinbase设置为仅限限制交易，从而限制了用户在平台上打开市场订单。

Suspicious Market-Making Contract Prompts Investigation

可疑的营销合同提示调查

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3800万美元的利润清算了6600万美元的搬迁令牌。抛售发生在移动后一天仅在主要交易所中列出的一天，这破坏了买方稳定性，并促使全球加密货币交易所进行调查。

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

很快，Binance卸下了参与Move代币抛售的做市商，将Web3Port的利润冻结，以补偿受影响的投资者。

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.

在做市商的终止之后，泄漏的文件显示，运动基金会与没有数字足迹的中间人Rentech之间的营销协议异常。最初，Rentech提出了一项营销合同，允许它控制Move总供应量的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.

该交易还具有其他不寻常的条款，包括一项规定，如果加密货币的完全稀释的市值达到50亿美元，则可以使Rentech清算其移动分配，并将一半的利润分配给了运动网络。

Lack of Transparency and Mismanagement Within Movement Labs

运动实验室内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.

在运动于2024年12月签署了Rentech的营销协议的修订版之前，另一份泄露的合同显示了Web3Port和运动之间的先前协议，但Rentech担任运动实验室的代表。

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.

现有的合同与运动影子顾问有关，据称他们控制了Move总供应量的10％。这些指控以及耗资3800万美元的清算争议最终导致运动联合创始人Rushi Manshe于2025年5月7日终止。

Coinbase Delisting Induces 20% MOVE Token Price Drop

Coinbase delisting诱导20％的代币价格下跌

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决定迁移的决定之后，以太坊L2加密货币的价格下跌了20％，将令牌推向了0.20美元至0.18美元的交易。结果，Move的市值低于5亿美元，将其置于低盘加密类别中。

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.

在加密市场中，在看涨势头期间，令牌的移动下降幅度更加令人惊讶。比特币（BTC）经历了97,000美元的上涨，尽管大量投资充满了数字资产行业，但Move的价格继续崩溃。

Movement’s Crash: Promising L2 Crypto Turned Nightmare Investment

机芯崩溃：有希望的L2加密转变为噩梦

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，运动实验室的目标是进行1亿美元的B系列资金回合，这将使该公司的价值为30亿美元。当时，Move已经达到了每个令牌的历史高价1.45美元，其加密市政上限为25亿美元。

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.

加密散户投资者急于确保“移动”代币并投资以太坊2层技术的未来。但是，较差的市场状况，主要是运动实验室丑闻，对代币的价格施加了向下压力，如今仍在感受到。根据Coingecko对MOVE代币的分析，该加密货币已从其历史最高的高度下降了87.5％。

How MOVE’s Controversy Affects Future Listings

Move的争议如何影响未来的列表

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决定从实时交易中搬迁的决定对即将到来的Coinbase列表和当前列出的令牌有多种影响。对于新的加密资产，该平台可能会提高其加密货币交易所上市标准，以确保适当考虑内部令牌治理问题。

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在其上市过程的简介中所解释的那样，可用的代币将受到持续的监控，以确保继续遵守上市标准。随着最高交易所的加密资产的兴起，负责区域加密货币市场访问的监管机构可能会增加交易平台的新审查要求。

What’s Next for MOVE Token Holders?

Move代币持有人的下一步是什么？

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市场操纵的情况下，运动基金会宣布了对市商及其外部活动的第三方审核。当前的移动持有人应了解有关移动新治理的外部审查和官方公告的任何新闻和结果。

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，建议投资者在曼斯（Manshe）离开后继续关注该运动的新领导。截至5月7日，运动宣布了Move Industries的新领导，其中包括早期运动实验室员工和Crypto的两个创始领导者。

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Final Thoughts: Why Clean Governance is Important

最终想法：为什么清洁治理很重要