Movement Labs confirmed the comment of its co -founder, Rushi Manche, after the differences about the market maker deal in it.
The movement announced the suspension of Manch on May 2 x mailHe explained that “the decision was taken in light of the current events.” The decision follows the latest Coinbase decision to suspend the movement of the movement network (Move), Quoting the failure of the symbol to meet the criteria for listing.
The comment came after a third party review was recently announced required Through the Movement Network Foundation in an agreement published by Manch with Renic – the latter helped in the intermediate agreement with the web3port market maker. GROOM Lake for Special Intelligence Company is conducting an investigation.
This was followed by Web3PORT selling the 66 million step you gained through the deal – about 5 % of the total offer. This led to $ 38 million of descending price pressure in December 2024.
GROOM Lake did not respond to Cointelegraph inquiry by the journalism time.
Related to: The securities of the securities are the market role for coding: Report
Market makers are a controversial encryption player
According to a recent analysisThe appropriate market maker can be a launch platform for an encrypted currency project, open the door to the main stock exchanges and provide valuable liquidity to ensure trading in the distinctive symbol. On the other hand, when the wrong incentives are set, market makers can kill a project while taking its first steps in the market.
The Summer 2024 report indicates that up to 78 % of the new distinguished code lists since April 2024 have been performed badly, with some This indicates that market makers are involved.
Related to: How to choose the market maker for your Web3 project
Claims to demand manipulation in the market
The Cryptocurrency Network has claimed that Crypto Market, the leading company in Wintermute, was a pioneer in Wintermute Participate in the distinguished symbol washing trade. Wash trading is a form of manipulation in the market that creates the illusion that one of the assets that are traded is higher than it is already.
This is far from the only issue. In late 2024, fracture laboratories, Web3, A lawsuit against the market maker jumping coding To organize the pump scheme and turns its currency in the game, DIO.
Another noticeable example is the Wall Street Journal report that DWF LABS, one of the largest trading customers in Binance, who participate in the manipulation of the market, washing trading and enlarged trading volumes of $ 300 million through deals with encryption projects. DWF and Binance Labs denied this accusation later In May 2024.
Last month, Massachusetts Court CLS GLOBAL COLTAL Maker has been fined For fraudulent manipulation of trading sizes. In late February, the founder of the hedge and market manufacturing fund called Gotbit It was delivered from Portugal to the United StatesWhere he faces market manipulation fees and wire fraud.
magazine: What do the encryption market makers already do? Liquidity, or manipulation
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