The Protocol: Inside Movement’s Token-Dump Scandal

Quick Summary:

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.

BASE REACHES STAGE 1 ROLLUP STATUS: Base, the popular layer-2 network from cryptocurrency exchange Coinbase (COIN), is now a “stage 1” rollup, said the company, setting up its path towards full decentralization.

If approved and implemented, the gas limit ceiling would climb from 36 million units to roughly 3.6 billion, allowing an estimated 6,000 simple transfers per block and over 2,000 transactions per second (TPS).

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Article Details

Author / Journalist: Margaux Nijkerk

Category: Crypto

Markets: United StatesCuba

Topics: News Ethereum The Protocol Tech Newsletters Scandal

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-30 @ 18:38:30 (18 hours ago)

News Timezone: GMT -5:00

News Source URL: coindesk.com

Language: English

Article Length: 654 words

Reading Time: 4 minutes read

Sentences: 36 lines

Sentence Length: 19 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinDesk

News ID: 28303149

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