Movement Labs investigates the sell-off caused by the control grant agreement for 66 million MOVE tokens

Odaily Planet Daily News: Movement Labs is investigating whether it was misled into signing a market making agreement that granted control over 66 million MOVE tokens to an unknown intermediary, triggering a $38 million sell-off of the token after its debut. Rentech appeared on both sides of the transaction, once as a subsidiary of Web3Port and once as an agent for the Movement Foundation. Foundation officials initially referred to the Rentech transaction as the 'possibly worst agreement' they had ever seen, which incentivized people to raise the price of MOVE before selling tokens to retail investors. （Coindesk）