Coinbase Suspends MOVE Token Trading Amid Regulatory Investigation

Coinbase announced that it will suspend trading of Movement Labs’ native MOVE token, effective May 15, following the token's failure to meet the exchange's listing standards. The decision, communicated on May 1 via a post on X, comes as part of an ongoing investigation into Movement Labs over an agreement that is alleged to have influenced MOVE's price. In response to the development, Coinbase has moved its MOVE order books to limit-only mode on its various platforms, restricting trades to limit orders that can be placed and canceled, although matches may still occur. CoinMarketCap data indicates that the MOVE token slipped by 13.6% in the past 24 hours, reflecting investor concerns over the token's viability and regulatory scrutiny.