Movement Labs Rebrands to Move Industries After Rushi Manche’s Exit

Key Points

• Movement Labs Rebrands to Move Industries After Rushi Manche’s Exit
•  MOVE token drops 10% following the controversy
• Company rebrands to Move Industries with new leadership
•  MoveDrop airdrop to proceed despite recent delays

Movement Labs has officially rebranded to Move Industries after firing its co-founder Rushi Manche amid a third-party investigation into market maker misconduct. This drastic move follows days of speculation and rising community concerns regarding transparency and governance.

The company announced Manche’s termination through an X (formerly Twitter) post:
“Movement Labs has terminated Rushi Manche. The movement will continue under different leadership. Details on leadership changes and a revamped governance structure will be coming soon.”

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.

— Movement (@movementlabsxyz) May 7, 2025

The controversy began when Manche was first suspended pending an external review. The review focuses on alleged misconduct involving market makers and questionable agreements made during the MOVE token’s launch. Reports of hidden payments, shadow advisors, and controversial token allocations only fueled community distrust.

The fallout has been significant. MOVE, the platform’s native token, plummeted over 10% in just 24 hours. As of now, MOVE trades at $0.16, according to Techtoken data. You can follow the ongoing MOVE token price drop for the latest market updates.

Movement (MOVE) Price Performance. Source: Techtoken

Community reaction has been overwhelmingly critical. Many users expressed disappointment, citing a lack of clear communication:

“This is incredibly disappointing. The community deserves transparency, not vague statements and behind-the-scenes decisions,” one user commented.
“If Movement is serious about governance and decentralization, start by being honest with the people who believed in this project,” added another.

This is incredibly disappointing. The community deserves transparency—not vague statements and behind-the-scenes decisions. Terminating leadership without context and asking us to wait for details isn’t how trust is built. If Movement is serious about governance and…

— xkt (@xkt_Krishna) May 7, 2025

The termination of Manche and the rebranding effort aim to restore trust. However, the absence of detailed disclosures continues to spark debate within the crypto community.

Move Industries Unveils New Leadership and Future Plans

In response to the turmoil, co-founder Cooper Scanlon announced a major restructuring. Rejecting what he called “false narratives” targeting him and the company, Scanlon emphasized that the ongoing third-party review will eventually address all concerns.

Scanlon also revealed the formation of Move Industries, a fresh start under new leadership:

• Torab Torabi has been appointed as CEO.

• Will Gaines will serve as president, leveraging his experience from leading Movement Labs’ marketing department.

“Today, I give my blessing to Torab as they establish Move Industries with Torab as CEO and with Will as President,” Scanlon stated.
“This journey has been incredible, and I am proud of what we have built together.”

Today, I give my blessing to @torabyou as they establish Move Industries with Torab as the CEO and with @livingwithwill as President and Torab’s right hand. This journey has been incredible, and I’m proud of what we’ve built together.

While I’ve always operated with the highest… https://t.co/bNYrsr42hx

— integrated coops (@coopsmoves) May 7, 2025

Move Industries promises a “clean break” and a return to community-first principles. The company plans to host regular town halls for increased transparency and has committed to stricter vetting and verification processes.

In a bold statement, Move Industries declared:
“The focus will be dual, the north stars being both technology and community. A focus built not only on hype but action. We will return to crypto’s radical roots and build better opportunities for people.”

Amid the leadership shake-up, the long-awaited MoveDrop airdrop—previously delayed due to the internal crisis—will proceed as planned. This decision signals an effort to maintain momentum and honor commitments to the community despite recent setbacks.

We are Move Industries. The Movement is now under new leadership. Today, a new era begins!

Who is behind Move Industries?

Early employees from Movement Labs, including the two founding leaders of Move Industries.@torabyou: CEO and Movement ecosystem architect…

— The Movement (@moveindustries) May 7, 2025

Wider Implications Across the Crypto Sector

The fallout from Movement Labs rebrands reflects larger trends in crypto governance and transparency. Investors and communities are becoming more vocal in demanding clear communication and accountability.

The MOVE token’s price action mirrors similar volatility seen in other major events, such as Worldcoin’s Kenya ruling and reactions to macroeconomic shifts like the recent Bitcoin FOMC updates.

Additionally, with the Ethereum Pectra upgrade approaching, governance and decentralization debates are intensifying across the industry. Even major figures like Justin Sun’s First Digital Trust have faced increased scrutiny.

As Move Industries vows to return to crypto’s radical, community-focused roots, the entire space watches closely. Whether they can regain trust and drive innovation remains to be seen.