Binance has taken firm action against internal misconduct and market irregularities linked to the Movement’s MOVE token.

The exchange has suspended a staff member for insider trading and penalized a market maker involved in manipulative trading practices.

Insider trading

On March 25, Binance Wallet confirmed the suspension of an employee who engaged in front-running trades using privileged information.

The individual previously held a business development role at BNB Chain, which granted them access to sensitive details, including upcoming token launches.

According to Binance, the employee was aware of a project preparing for its Token Generation Event (TGE).

Using that information, the person purchased a large amount of tokens through several wallet addresses. After the launch, they sold some tokens to gain early profits while holding a sizable amount with unrealized gains.

Binance responded by suspending the employee and launching a formal disciplinary process. The exchange also confirmed its willingness to cooperate with authorities for possible legal action.

Meanwhile, Binance reaffirmed its zero-tolerance stance on misconduct. The platform said it is tightening internal controls and refining its policies to prevent similar behavior in the future.

Binance also called on users to report unethical actions through its whistleblower portal. As part of this push, the company will distribute a $100,000 reward to four whistleblowers who provided valid reports on this case.

Market manipulation

Binance also uncovered irregular trading activity involving an unnamed market maker linked to the MOVE token.

This entity, now banned, was found dumping roughly 66 million MOVE tokens on Dec. 10, 2024—just a day after the token’s launch—while placing few or no buy orders.

By the time the account was removed from the platform on March 18, 2025, it had raked in an estimated $38 million in profit. Binance has since frozen the earnings and barred the market maker from future activity.

Binance notified Movement Labs and the Movement Foundation, both of which were unaware of the misconduct. After learning of the issue, the project cut ties with the involved party and committed to compensating affected users.

The Movement Network will repurchase MOVE tokens using the $38 million already recovered to make things right. The buyback will occur over the next three months on Binance, with repurchased tokens transferred to the Movement Strategic Reserve.

The post Binance suspends staff and bans market maker to tackle insider trading and market manipulation appeared first on CryptoSlate.

Bitcoin’s price movements to the upside were stopped ahead of the $89,000 resistance, and the asset now sits about two grand lower.

Some altcoins, such as DOGE and ADA, have charted notable gains over the past 24 hours but the day belongs to Cronos (CRO).

BTC Stopped at $89K

It was just a week ago, last Tuesday when BTC’s price struggled to remain above $81,000 after a $3,000 daily drop. However, it defended that level and spiked above $87,000 just a day later, following the conclusion of the second FOMC meeting for the year and Brad Garlinghouse’s triumphant announcement regarding the lawsuit between his company and the SEC.

Nevertheless, bitcoin failed to maintain its run and was pushed south to around $84,000 where it spent the next few days. The first signs of a recovery came late on Sunday when BTC started to regain traction. This culminated on Monday with a surge to just under $89,000, but these factors stopped the asset from reclaiming that level.

BTC slipped below $87,000 in the following hours but now stands above that line. Its market capitalization has risen to over $1.730 trillion, but its dominance over the alts has taken a hit and is down to 58.3% on CG.

CRO Skyrockets

Perhaps the biggest news in the crypto community in the past 24 hours came from Crypto.com. The exchange announced a partnership with Trump’s media company – Trump Media and Technology Group (TMTG), to launch several ETFs and ETPs. Naturally, CRO’s price shot up by up to 40% at one point.

Dogecoin is also in the green today, although in a much more modest manner. DOGE has risen by nearly 6% and sits above $0.185. ADA, SOL, BNB, LINK, XLM, HBAR, and SHIB are with minor gains as well.

In contrast, ETH, XRP, TRX, TON, and LEO have marked insignificant losses.

The total crypto market cap has remained essentially at the same spot as yesterday at $2.970 trillion on CG.

The post BTC Stopped Ahead of $89K, CRO Explodes by Double Digits (Market Watch) appeared first on CryptoPotato.