Movement Labs Rebrands and Terminates Co-Founder Amid Governance Review

Movement Labs has severed ties with co-founder Rushi Manche as part of an organizational overhaul, announcing his termination via social media platform X. The blockchain infrastructure firm will continue operations under new leadership, with details on governance restructuring forthcoming.

The dismissal follows Manche’s recent suspension during a third-party investigation into alleged market manipulation involving the MOVE token. Movement Labs emphasized its commitment to transparency, stating the review process remains ongoing despite leadership changes.

This development marks the second major upheaval for the project in weeks, coming shortly after its rebranding from Move Industries. The company’s native token showed no immediate price reaction to the news, maintaining stability amid the governance crisis.