Today in crypto, Binance froze a market maker’s proceeds after detecting that it sold 66 million MOVE tokens and provided “little” in buy orders, Trump Media is teaming up with Crypto.com to launch a series of “Made In America” crypto and stock exchange-traded funds (ETFs), and decentralized finance (DeFi) lender Nostra paused borrowing on two liquid staking tokens after a critical price feed issue on Starknet.
On March 24, the Movement Network Foundation said it recovered about $38 million in assets from a market maker tasked with providing liquidity on buy and sell orders for the Movement (MOVE) token on Binance. Binance offboarded the market maker due to “market irregularities.” The exchange sanctioned the market maker, freezing its proceeds and forbidding it from further market-making activities. Market makers provide liquidity to crypto tokens to attract traders and stabilize their prices.
These entities are tasked with providing liquidity on both buy and sell orders to ensure the smooth operation of crypto exchanges. According to Binance, the market maker sold 66 million MOVE tokens after the token was listed, while placing “little” in buy orders.
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Author / Journalist: Cointelegraph by Cointelegraph
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