Coinbase has announced the suspension of trading for the MOVE token from Movement Labs, effective May 15. This decision, communicated on May 1, cites the token's failure to meet Coinbase's listing standards. Following the announcement, the MOVE token experienced a decline of 13.6% in its value within the last 24 hours. Coinbase stated that trading for MOVE will be halted across its platforms, including Simple and Advanced Trade, Coinbase Exchange, and Coinbase Prime. The order books for MOVE have been shifted to limit-only mode, allowing users to place and cancel limit orders, with potential matches occurring. This move follows an ongoing investigation into Movement Labs concerning an agreement that allegedly influenced the MOVE token price. The situation continues to develop, and more information will be provided as it becomes available.

Source 🔗