MOVE Token Tanks 80% as Binance Mulls Delisting—Movement Labs Scrambles to Rebrand

Another day, another crypto project scrambling to distance itself from a collapsing token. Movement Labs—now hastily rebranding—sees its MOVE token in freefall after Binance’s delisting warning.

Price carnage: MOVE plunges 80% from ATH. Exchange risk: Binance cites ’failure to meet standards.’ (Translation: someone finally checked the whitepaper.)

Rebrand roulette: ’Movement Labs’ replaces the old name, but investors are sprinting for exits. Pro tip: When your biggest achievement is a name change, maybe reconsider that Lambo order.

Movement’s new leadership

Following the leadership shake-up, Movement Labs has restructured under the new name, Move Industries. The rebrand marks an effort to restore credibility and refocus the project on its original mission.

According to a May 7 announcement, founding member Torab Torabi has taken over as CEO, while Will Gaines, formerly in charge of marketing, has been named president.

Move Industries outlined a leadership philosophy shift prioritizing community engagement and technological development. The team aims to rebuild trust by returning to crypto’s foundational principles and focusing on delivering real value over hype.

The team stated:

“We’ll return to crypto’s radical roots. We want to build better opportunities for people.”

MOVE token plunges

The drama surrounding the project has been hitting the network’s native token, MOVE, hard.

According to CryptoSlate’s data, the token dropped nearly 13% in the past 24 hours to around $0.15 as of press time. This marks a 35% decline over the past week and a staggering 50% plunge in the last month.

MOVE has lost approximately 87% of its value since reaching an all-time high of $1.21 in December 2024.

Due to this volatility, Binance has added a monitoring tag to MOVE. The exchange warned that tokens with this tag carry significantly higher risks and price swings.

According to the exchange:

“These tokens are closely monitored, with regular reviews conducted. Keep in mind that tokens with the Monitoring Tag are at risk of no longer meeting our listing criteria and being delisted from the platform.”