The Sports Network Foundation is a well-known blockchain entity that is arguing about the controversy about the “market maker exception” related to the token, $MOVE. The situation has attracted attention to co-founder Rushi Manche, whose reports on his status in the exercise lab are contradictory. This situation has led to market uncertainty, impacted the price of Move, and raised questions about the governance and transparency of the project.
Action market makers’ violations
In March 2025, Binance identified a market maker that dumped 66 million mobile tokens into mobile labs shortly after it went public, triggering a huge price drop. This incident contradicts the role of market makers in ensuring liquidity and price stability through balanced trading.
Learn more: What is sports?
Binance accused market dealers of market manipulation, placing small buy orders while selling large amounts of tokens, resulting in price fluctuations. The exchange freezes $38 million from these activities to compensate affected users.
The blockchain project Movement Lab, which utilizes mobile languages, confirmed that it was not aware of the violation until it was through binary notifications. This incident has attracted significant attention from the crypto community and raised questions about market makers’ transparency.
Reports surrounding the movement’s co-founder’s report contradictory
These questions push Rushi Manche, a key figure in the sports lab, into the spotlight. Many articles say Manche is taking temporary leave and his company’s Slack account is temporarily suspended, sparking speculation about his involvement in the breach.
Manche quickly denied these claims xasserting that he is still fully involved in the project. His active social media presence, including sharing photos of himself speaking at the Web3Festival conference as co-founder of the Sports Lab, supported his position. He even called BlockWorks Report “Freaky report.”
However, the contradictory narrative created uncertainty, and investors questioned the stability of the project’s leadership. As the investigation unfolds, it will be crucial for Manchester to maintain visibility and problem-solving capabilities.
Market reactions and status quo
Source: CoinMarketCap
The news triggered a 5-10% drop movereflects market uneasiness. Investors are alert to potential governance issues and the results of investigations. Despite the price drop, Manchester’s continued participation and foundation’s commitment to transparency may mitigate further losses. The findings of the investigation will be critical: clear resolutions can stabilize the price of moving, while extended uncertainty may deepen the volatility. The crypto community is waiting for updates as the movement navigates this turbulent phase.
