It seems that only BN has such strong liquidity, being able to dump tens of millions of dollars...
Another point of curiosity is, among those projects that claimed to have been dumped by MM without consent, who was truly victimized, and who originally planned to sell and distribute the money but got caught by users.
CoinDesk's scoop tonight is quite significant.
· Movement signed a market-making agreement with intermediary Rentech for 60 million MOVE tokens. After listing on Binance, Rentech sold off $38 million worth of tokens.
· The contract reveals that Rentech is both a subsidiary of Web3Port and an agent of the Movement Foundation, raising suspicions of insider trading.
· The person who spearheaded this contract is suspected to be Rushi, who was previously rumored to have ties with Wan Hui.
· Currently, Movement co-founder Rushi and advisor Sam are under investigation, with the latter being accused of being the main driver behind the incident.
· Rentech, the intermediary company under Web3Port, responded by stating that these contracts and decisions were approved by people from the Movement Foundation. However, Movement representatives now deny any involvement in drafting or establishing the contract.
· The agreement stipulates that when MOVE's total market cap exceeds $5 billion, the intermediary market maker can sell tokens to retail investors, with profits split 50-50 with the project team.
In summary, every party involved is denying responsibility, and internal conflicts have erupted within Movement. The founder and co-founder are now in a standoff.
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