Movement responded to the doubts: Tokens deposited in the exchange are used for institutional products and loan transactions and will not be sold or transferred

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PANews
03-31
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PANews reported on March 31 that Rushi Manche, co-founder of Movement Labs, addressed community concerns on X platform regarding token transfers, stating that the related tokens are prepared for upcoming institutional products (such as ETP/ETF) and loan transactions, and will not be sold or transferred. Previously, OnchainLens monitoring showed that the Movement Labs team address deposited 17.15 million MOVE tokens (approximately $7.74 million) to Coinbase yesterday, with a cumulative deposit of 24.15 million tokens over the past two days, valued at around $11.03 million.

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