According to Foresight News, Rushi Manche, co-founder of Movement Labs, responded on Twitter to KOL doubts that "Movement is likely to manipulate market prices and sell tokens in collaboration with market makers," stating, "Tokens deposited on trading platforms are for institutional product launches (such as ETP/ETF) and corresponding loans, and will not be sold or transferred."
Previously reported by Foresight News, according to OnchainLens monitoring, the Movement Labs team address deposited 17.15 million MOVE tokens into Coinbase yesterday, valued at approximately $7.74 million. Over the past two days, they have sent a total of 24.15 million MOVE tokens to Coinbase, valued at approximately $11.03 million.
