Binance Releases Measures to Address Market Violations by Market Makers of the Movement (MOVE) Project

Odaily Planet Daily News According to the official announcement, Binance found that a market maker of the Movement (MOVE) project was associated with another market maker that was recently delisted and banned from any market making activities on Binance due to violations. The market maker had the following market making behaviors, including: 1. On December 10, 2024 (Eastern Time 8), the second day after the MOVE token was launched, the market maker sold a total of about 66 million MOVE tokens, and there were very few buy orders; 2. The final profit of the market maker before being delisted by the platform on March 18, 2025 (Eastern Time 8) was 38 million USDT. In order to better protect Binance users, Binance has taken the following additional measures for the market maker's misconduct: 1. Notified the Movement Labs and Movement Foundation teams about the market maker's market violations; 2. The relevant income of the market maker has been frozen; 3. The MOVE project has promised to use the market maker's related income to compensate users (the project will announce a detailed plan); 4. The market maker has been delisted and prohibited from conducting any further market making activities on Binance.