Movement Network Foundation: We were unaware of the behavior of a certain market maker and have cut off all ties
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Planet News: Regarding Binance's handling of market-making violations for the Movement (MOVE) project, the Movement Network Foundation stated that Movement Network Foundation and Movement Labs were unaware of these actions. They chose to collaborate with this market maker because they had previously supported projects in the Movement ecosystem. They have now severed all relationships with the market maker (including ecosystem partnerships) and contacted other major exchanges to inform them about the ongoing investigation. Throughout the entire incident, the Movement Network Foundation has actively cooperated with Binance and promised to use funds recovered from the market maker to repurchase $MOVE in the open market.
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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