Maker

Token

Movement

<div class="intro-text">Binance has <a href="https://www.binance.com/en/support/announcement/detail/478515187fab440fa80e56137c148a1b" rel="noopener noreferrer nofollow">taken disciplinary action against a market maker associated with Movement (MOVE)</a> after uncovering its involvement in irregular trading activities. </div>The cryptocurrency exchange stated that the market maker had ties to another entity previously offboarded due to misconduct and has now been permanently banned from conducting market-making activities on Binance.According to Binance, the market maker engaged in questionable trading behavior by selling approximately 66 million MOVE tokens on December 10, 2024, just a day after the token’s listing, without significant corresponding buy orders. This activity allowed the entity to secure a net profit of 38 million USDT before being offboarded on March 18, 2025. In response, Binance has frozen the proceeds from these trades, with Movement Labs and the Movement Foundation set to determine a compensation plan for affected users.As part of its response, Binance has also informed the project teams behind MOVE about the trading irregularities, emphasizing the need for strict compliance with market-making rules. The exchange reiterated that all authorized market makers must place both bid and ask orders, ensure adequate order size and liquidity, and prevent disruptions caused by excessive order placements or cancellations. Binance warned that any failure to adhere to these principles will result in further enforcement actions to protect users and maintain market integrity. These measures underscore Binance’s ongoing efforts to uphold transparency and market stability while ensuring a fair trading environment for all users.&nbsp;In a related move to enhance transparency, Binance has <a href="https://defi-planet.com/2025/03/binance-to-trial-its-community-driven-delisting-mechanism/" rel="noopener noreferrer nofollow">introduced</a> a community-driven delisting process through its “Vote to Delist” mechanism. Announced on March 20, this initiative allows users to vote on tokens that should be removed from the platform. The trial began on March 21, 2025, at 06:30 UTC, and will run until March 27, 2025, at 23:59 UTC. To participate, users must hold at least 0.01 BNB and can vote for up to five projects via Binance Square Official, where real-time updates will be provided.&nbsp;If you want to read more news articles like this, visit <a href="https://defi-planet.com/" rel="noopener noreferrer nofollow">DeFi Planet</a> and follow us on <a href="https://twitter.com/PlanetDefi" rel="noopener noreferrer nofollow">Twitter</a>,<a href="https://www.linkedin.com/company/defi-planet/" rel="noopener noreferrer nofollow">LinkedIn</a>,<a href="https://www.facebook.com/DeFi-Planet-129907662611402" rel="noopener noreferrer nofollow">Facebook</a>,<a href="https://www.instagram.com/defi.planet/" rel="noopener noreferrer nofollow">Instagram</a>, and <a href="https://coinmarketcap.com/community/profile/DeFiPlanet/" rel="noopener noreferrer nofollow">CoinMarketCap Community.</a>“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”The post <a href="https://defi-planet.com/2025/03/binance-takes-action-against-market-maker-over-move-token-irregularities/" rel="noopener noreferrer nofollow">Binance Takes Action Against Market Maker Over MOVE Token Irregularities</a> appeared first on <a href="https://defi-planet.com" rel="noopener noreferrer nofollow">DeFi Planet</a>.

Binance Takes Action Against Market Maker Over MOVE Token Irregularities

DeFi Planet

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