By all appearances, they truly have zero compunction about ripping off their MAGA supporters, it seems -- up to and including front running snd manipulative round trip trading -- then pump and dumping. Here's that still-developing story:
. . .Internal contracts show Rentech, a firm with no digital footprint, appearing on both sides of the deal, once as a Web3Port subsidiary and once as an agent of Movement Foundation, raising questions about self-dealing.
Foundation officials initially flagged the Rentech deal as “possibly the worst agreement” they had ever seen; experts warn it created incentives to pump MOVE’s price before dumping tokens onto retail investors.
The incident has exposed a rift within the Movement's top leadership: executives, legal counsel and advisors are all under scrutiny for their roles in facilitating the arrangement despite internal objections. . . .
Movement, the blockchain project behind the MOVE cryptocurrency, is investigating whether it was deceived into signing a financial agreement that granted a single entity outsized control over the market for its token, according to internal documents reviewed by CoinDesk.
The agreement led to 66 million MOVE tokens being sold onto the market the day after the asset’s December 9 exchange debut, triggering a steep price drop and allegations of insider dealing within a crypto project endorsed by World Liberty Financial, the crypto venture backed by Donald Trump. . . .
If there are any functioning career attorneys left inside the SEC who haven't been gagged or worse by the MAGA crowd. . . this ought to lead to civil enforcement suits, and then DoJ referrals -- for all involved. Onward.
नमस्ते
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