TechFlow news, April 30 — According to CoinDesk, the Movement Foundation faced a major crisis after signing an agreement to lend approximately 50% of the circulating supply of MOVE tokens to Web3Port Labs. The day after listing, accounts linked to Web3Port dumped 66 million tokens, prompting Binance to urgently suspend those accounts. Internal contracts obtained by CoinDesk reveal that Web3Port and Movement separately entered agreements with intermediary Rentech. Movement stated it is investigating whether it was misled into signing the agreement. The contract includes a key clause allowing Web3Port to liquidate the tokens and share proceeds with Rentech when MOVE reaches a $5 billion valuation, which experts say creates a clear "pump-and-dump" incentive.
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