Movement Network Foundation Recovers $38 Million from Market Maker for Token Buyback Program
The Movement Network organization has announced plans to use $38 million recovered from a market maker to repurchase MOVE tokens within the next three months. On March 24, the Movement Network Foundation recovered approximately $38 million in assets from a market maker responsible for providing liquidity for the MOVE token on Binance. Binance took action against the market maker due to market irregularities, freezing their profits and prohibiting further market-making activities. Market makers play a crucial role in providing liquidity for crypto tokens to ensure smooth trading on exchanges. The recovered funds will be used by the Movement Network Foundation to establish a $38 million USDT buyback program for MOVE tokens.
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