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Movement Labs has terminated co-founder Rushi Manche following a controversial market maker deal with Rentech and Web3Port that led to significant token price drops. The project announced leadership changes and upcoming governance reforms in response to the fallout.
- Movement Labs cut ties with co-founder Rushi Manche over a disputed market maker deal involving Rentech and Web3Port.
- Coinbase suspended trading of the MOVE token, citing failure to meet listing requirements amid the controversy.
- The project plans governance reforms and new leadership to restore confidence after the fallout.
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