Binance has postponed the second installment of its MOVE token airdrop, initially scheduled for mid-2025, due to ongoing issues and uncertainty surrounding the Movement project.
In a May 7 statement, Binance emphasized that safeguarding users remains its top priority. The exchange also assured users that the MOVE tokens collected are stored in a readily accessible wallet to maintain maximum transparency throughout the waiting period.
The decision to delay the airdrop comes shortly after the Movement Foundation delivered the tokens for the Launchpad airdrop. However, Binance highlighted the need for greater transparency and direction from the project to proceed further with the token distribution.
The airdrop is part of a prior agreement that stated eligible Binance users would receive 5% of the MOVE token supply, approximately six months after the token's listing on the spot market.
Following this news, the token price decreased by around 10%, trading at $0.15 vs. USDC and 0.0002607 BNB, signifying increased distress among investors. Earlier in April 2025, the token experienced a 16% drop following its delisting on Coinbase. It was also subject to a $38 million loss caused by a malicious market maker. Such incidents have critically undermined investor confidence.
In an effort to salvage the project, the Movement Foundation recently announced new leadership through a rebranded organization called Move Industries. The move also includes suspending co-founder Rushi Manche and promoting Movement Labs' original team members to leadership positions. Torab Torabi will serve as the new CEO and ecosystem architect, and Will Gaines as President and CMO.
Move Industries states its greatest priorities are to unveil the postponed Movedrop, rebuild the relationship with the community, and repair the way the project is governed. The new team has vowed to be more transparent and communicative by having frequent town hall meetings and being more diligent in selecting future partners.
However, regaining the trust of the community will not be easy, even with these efforts. When the airdrop was delayed and the value of the MOVE token crashed, many of the fans expressed their disappointment.
