Move Industries Launches New Era for Movement

Leadership transition and new organizational structure reinforce commitment to core technology and enhanced governance

, /PRNewswire/ -- Movement Labs, a Web3 company and core contributor of the Movement Network, today announced the establishment of Move Industries by two Movement employees. The newly formed Move Industries has been established to ensure a more simplified and focused operational structure, including new executive leadership.

Torab Torabi, a founding member of Move Industries, will lead the company as CEO. In addition, Will Gaines will serve as President and Chief Marketing Officer and Young Yang Liauw will continue overseeing engineering. Mr. 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.

Move Industries is committed to maintaining Movement's position as a leading Move-based blockchain ecosystem. Move Industries' three core pillars are Community/Brand, Engineering/Product, and Ecosystem/Business Development. The new endeavor will operate with enhanced accountability measures, providing a stronger foundation for the Movement ecosystem's future growth and success.

"Today marks the beginning of an exciting new chapter for the Movement," said Torabi. "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."

Movement Labs has also terminated Co-Founder Rushi Manche.

Additionally, Co-Founder Cooper Scanlon is voluntarily passing the torch to Torab Torabi, to lead Move Industries.

"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. "Torab has been instrumental to Movement's development from the beginning, and I have complete confidence in his leadership abilities and vision for the future. I will continue to support the Movement and advocate as the team writes this next chapter."

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," said 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.