Move Labs Launches New Era for Movement

Move Labs, a Web3 company and core contributor of the Movement Network, today announced the formation of Move Industries by two Movement employees. The newly formed Move Industries will ensure a more simplified and focused operational structure, including new executive leadership.

The company’s three core pillars are Community/Brand, Engineering/Product, and Ecosystem/Business Development. The new endeavor will also operate with enhanced accountability measures, providing a stronger foundation for the Movement ecosystem’s future growth and success.

Move Industries is committed to maintaining Movement’s position as a leading Move-based blockchain ecosystem.

“Today marks the beginning of an exciting new chapter for the Movement,” said Torab Torabi, CEO of Move Industries. “We are putting in place the structures needed for our company to thrive, which includes a full commitment to our ecosystem builders and community. They are at the heart of everything we do. Our team remains heads down, improving chain performance, increasing economic activity on-chain, and supporting the incredible projects being built on the Movement Network. We will continue full steam ahead to fulfill our promises.”

In addition, will serve as President and Chief Marketing Officer and Young Yang Liauw will continue overseeing engineering. Liauw brings significant blockchain engineering expertise from his time at Aptos as Head of Move along with positions at Novi and Meta, where he worked on the Libra team.

Annuities: A New Chapter in Web3

Move Industries is also introducing a new initiative called "Annuities," which will focus on providing sustainable and long-term economic support to members of the Movement community. This program aims to foster a more inclusive and equitable ecosystem, empowering individuals and teams to make meaningful contributions.

“We are incredibly grateful for the contributions of Rushi and Cooper to launch Movement and set the stage for this next phase,” said Gaines. “Their creativity and leadership have been instrumental in establishing Movement as a leading blockchain ecosystem.”

As part of the leadership transition, co-founder Rushi Manche has been terminated by Movement Labs.

Moreover, co-founder Cooper Scanlon is voluntarily passing the torch to Torab to lead Move Industries. Scanlon will continue to support the Movement and advocate as the team writes this next chapter.

“It has been an incredible journey bringing the Movement vision to life and I’m immensely proud of what we’ve built together,” said Scanlon.

Move Industries will operate under improved governance, including expanded board oversight and transparent decision-making processes.

“The Movement community has stood with us through both triumph and challenge,” added Gaines. “With Move Industries, we’re returning to our founding principles: self-sovereignty, creativity, and systems that serve people. This next chapter will ensure we continue building world-class infrastructure, world-class businesses and a world-class movement.”

About Move Industries

Move Industries is building a community-first Move-based blockchain ecosystem. Led by a team of industry veterans, Move Industries maintains a dual focus on technology and community. The organization intends to return to crypto’s radical roots: giving financial power and opportunity back to the people. The company is headquartered in San Francisco, CA.