Movement Labs Terminates CEO Rushi Manche After $38M $MOVE Sell-Off, Rebrands as Move Industries with Torab Torabi as CEO

Movement Labs has terminated its CEO and co-founder Rushi Manche following a $38 million sell-off of its $MOVE tokens. The company has rebranded as Move Industries and announced a new leadership structure. Torab Torabi has been appointed CEO, and Will Gaines will serve as President and Chief Marketing Officer. The rebranding and leadership changes come after a turbulent period for the company. Separately, Saronic announced leadership changes with co-founders Doug Lambert and Vib Altekar assuming the roles of Chief Operating Officer and Chief Technology Officer, respectively.

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