Coinbase to suspend trading of MOVE token
Coinbase is halting trading of Movement Labs’ MOVE token on May 15, citing noncompliance with its listing standards.
Crypto exchange Coinbase has announced it will suspend trading of the Movement Network token (MOVE), the native cryptocurrency of the Movement layer-2 blockchain protocol, developed by Movement Labs, effective May 15.
The decision was shared in a May 1 X post, with Coinbase citing the token’s failure to meet its listing standards. The price of the MOVE token also declined by approximately 14.5% in the last 24 hours. Coinbase specified the details of the suspension in an announcement:
The suspension of the token follows a recently announced third-party review orchestrated by the Movement Network Foundation into an agreement allegedly signed by Movement Labs and a market-making firm, which is said to be behind the downfall of the MOVE token price in December 2024.
