{"id":478603,"date":"2025-05-07T13:45:58","date_gmt":"2025-05-07T12:45:58","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=478603"},"modified":"2025-05-07T13:16:32","modified_gmt":"2025-05-07T12:16:32","slug":"movement-labs-rebrands-as-move-token-faces-dramatic-plunge-and-potential-binance-delisting","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/movement-labs-rebrands-as-move-token-faces-dramatic-plunge-and-potential-binance-delisting\/","title":{"rendered":"Movement Labs rebrands as MOVE token faces dramatic plunge and potential Binance delisting"},"content":{"rendered":"<p>Movement Labs has removed co-founder Rushi Manche and restructured under a new name, Move Industries.<\/p>\n<p>The company announced Manche's termination on May 7, <a href=\"https:\/\/x.com\/movementlabsxyz\/status\/1919974813642502381\">saying<\/a>:<\/p>\n<blockquote><p>&#8220;Movement Labs has terminated Rushi Manche. Movement will continue under different leadership. Details on leadership changes and a revamped governance structure will be coming soon.&#8221;<\/p><\/blockquote>\n<p>The decision follows a high-profile investigation into <a href=\"https:\/\/cryptoslate.com\/binance-suspends-staff-and-bans-market-maker-to-tackle-insider-trading-and-market-manipulation\/\">suspicious market activity<\/a> involving the firm's <a href=\"https:\/\/cryptoslate.com\/coins\/movement\/\">MOVE<\/a> token. At the center of the issue is a December 2024 token dump that caused MOVE's price to crash.<\/p>\n<p class=\"\" data-start=\"1347\" data-end=\"1651\">In response, Movement Labs hired blockchain intelligence firm Groom Lake to investigate the incident and ended its relationship with the market maker. It also launched a $38 million token buyback initiative.<\/p>\n<p class=\"\" data-start=\"1347\" data-end=\"1651\">Manche, who <a href=\"https:\/\/cryptoslate.com\/coinbase-delisting-sends-movements-move-token-to-all-time-low-amid-market-making-scandal\/\">denied involvement in the suspicious activity,<\/a> claimed the project relied on poor advice from external partners. He has not yet publicly commented on his termination from the project.<\/p>\n<h2 data-start=\"1347\" data-end=\"1651\">Movement's new leadership<\/h2>\n<p>Following the leadership shake-up, Movement Labs has restructured under the new name, Move Industries. The rebrand marks an effort to restore credibility and refocus the project on its original mission.<\/p>\n<p>According to a May 7 <a href=\"https:\/\/x.com\/moveindustries\/status\/1919983628563706242\">announcement<\/a>, founding member Torab Torabi has taken over as CEO, while Will Gaines, formerly in charge of marketing, has been named president.<\/p>\n<p>Move Industries outlined a leadership philosophy shift prioritizing community engagement and technological development. The team aims to rebuild trust by returning to crypto's foundational principles and focusing on delivering real value over hype.<\/p>\n<p>The team stated:<\/p>\n<blockquote><p>&#8220;We'll return to crypto's radical roots. We want to build better opportunities for people.&#8221;<\/p><\/blockquote>\n<h2>MOVE token plunges<\/h2>\n<p>The drama surrounding the project has been hitting the network's native token, MOVE, hard.<\/p>\n<p>According to <em>CryptoSlate's<\/em> data, the token dropped nearly 13% in the past 24 hours to around $0.15 as of press time. This marks a 35% decline over the past week and a staggering 50% plunge in the last month.<\/p>\n<p>MOVE has lost approximately 87% of its value since reaching an all-time high of $1.21 in December 2024.<\/p>\n<p>Due to this volatility, <a href=\"https:\/\/cryptoslate.com\/companies\/binance\/\">Binance<\/a> has added a monitoring tag to MOVE. The exchange <a href=\"https:\/\/www.binance.com\/en\/support\/announcement\/detail\/514e8ba0fef0462b97a8ce1506dc474d\">warned<\/a> that tokens with this tag carry significantly higher risks and price swings.<\/p>\n<p>According to the exchange:<\/p>\n<blockquote><p>&#8220;These tokens are closely monitored, with regular reviews conducted. Keep in mind that tokens with the Monitoring Tag are at risk of no longer meeting our listing criteria and being delisted from the platform.&#8221;<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Movement Labs has removed co-founder Rushi Manche and restructured under a new name, Move Industries. The company announced Manche&#8217;s termination on May 7, saying: &#8220;Movement Labs has terminated Rushi Manche. Movement will continue under different leadership. Details on leadership changes and a revamped governance structure will be coming soon.&#8221; The decision follows a high-profile investigation [&hellip;]<\/p>\n","protected":false},"author":720,"featured_media":478615,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39,37,76736],"tags":[80129,80128],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Movement Labs rebrands as MOVE token faces dramatic plunge and potential Binance delisting<\/title>\n<meta name=\"description\" content=\"Movement Labs strives to regain trust following MOVE token collapse with a new leadership and brand identity.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/movement-labs-rebrands-as-move-token-faces-dramatic-plunge-and-potential-binance-delisting\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Movement Labs rebrands as MOVE token faces dramatic plunge and potential Binance delisting\" \/>\n<meta property=\"og:description\" content=\"Movement Labs strives to regain trust following MOVE token collapse with a new leadership and brand identity.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/movement-labs-rebrands-as-move-token-faces-dramatic-plunge-and-potential-binance-delisting\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2025-05-07T12:45:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-05-07T12:16:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/05\/movement-move-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Oluwapelumi Adejumo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Oluwapelumi Adejumo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/movement-labs-rebrands-as-move-token-faces-dramatic-plunge-and-potential-binance-delisting\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/movement-labs-rebrands-as-move-token-faces-dramatic-plunge-and-potential-binance-delisting\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person\",\"name\":\"Oluwapelumi Adejumo\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/profile-oluwapelumi-adejumo-1-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/profile-oluwapelumi-adejumo-1-300x300.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"jobTitle\":\"Senior Reporter\",\"description\":\"Oluwapelumi values Bitcoin's potential. 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