Binance Launchpad Hits Pause on MOVE Airdrop Amid Movement Project Turmoil
Binance Launchpad slams the brakes on its much-hyped MOVE token distribution—blaming ’uncertainty’ swirling around the Movement project. The delay throws cold water on traders who’d already factored the airdrop into their leveraged long plays.
Another day, another crypto delay—because when has blockchain ever moved at the speed of money? The Launchpad team cites ’project-side considerations’ (translation: someone didn’t file the paperwork or the lawyers got spooked). Meanwhile, BNB hodlers shrug—they’ve seen this movie before.
Watch the ’Movement’ team now scramble to reassure markets. Nothing builds confidence like a last-minute schedule change, right? Just ask the guys who bought ICP at ATH.
MOVE sank further after Binance announced it would hold the Launchpad Season 2 event. | Source: CoinGecko
Movedrop was supposed to happen before Launchpad Season 2, but also faced delays in the past week.
The project faced uncertainty, as the Movement Foundation aimed to repair the reputation damage. The chief problem for MOVE was the team’s agreement with consultants and market makers who controlled a big part of the token supply. This led to price instability, which undermined the platform’s otherwise sound technological plans.
Movement is currently in the early stages of building a DeFi sector, locking in around $106M in several DEXs and lending apps.
Movement Foundation introduces new leadership
The Movement Foundation announced a change in leadership, after suspending co-founder Rushi Manche.
The new leadership will be known as Move Industries and will take over from May 7.
The new leadership announced Movedrop will be one of its priorities, followed by community engagement and tech upgrades. The Movedrop event is still often mentioned by the new leadership, in hopes of reviving the native token and the project.
Move Industries has selected early employees from Movement Labs to head the project. The new CEO and ecosystem architect will be @torabyou, and @livingwithwill is filling the role of President and CMO.
Move Industries will also be an entirely new company, including a total overhaul of governance. The community will be engaged in transparent town hall events, and the new team will have more rigorous vetting and verifying of partners.
The Movement project is also facing the anger of its community, which may not be willing to engage as closely following the crash of the MOVE token and the failed airdrops.
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