Movement Network to buy back tokens with $38M recovered from rogue market maker

The group behind the Motion Community mentioned it’ll use $38 million recovered from a market maker to purchase again MOVE tokens over the following three months.

On March 24, the Motion Community Basis mentioned it recovered about $38 million in property from a market maker tasked with offering liquidity on purchase and promote orders for the Motion (MOVE) token on Binance. 

Binance offboarded the market maker attributable to “market irregularities.” The change sanctioned the market maker, freezing its proceeds and forbidding it from additional market-making actions.  

Market makers present liquidity to crypto tokens to draw merchants and stabilize their costs. These entities are tasked with offering liquidity on each purchase and promote orders to make sure the sleek operation of crypto exchanges.