Movement Network Foundation Announces Corporate Governance Updates

GRAND CAYMAN, Cayman Islands, Aug. 11, 2026 (GLOBE NEWSWIRE) -- Movement Network Foundation (the “Foundation”), steward of the Movement Network, today shared updates on corporate governance workstreams.

Primary Service Provider: Move Industries

In December 2025, the Foundation successfully finalized the appointment of Move Ind. Inc. (“Move Industries”) as the official primary service provider for the Movement Network. With the completion of this process, Move Industries assumed primary operating responsibilities for the Movement Network, on behalf of the Foundation.

The Foundation’s role will continue to focus on oversight and treasury management, while Move Industries and its leadership team manage the Movement Network’s technical, business, and ecosystem roadmaps.

Corporate Governance Upgrades

Since the changes to Movement Network leadership that were announced in May 2025, the Foundation made numerous enhancements to further strengthen corporate governance across the ecosystem, including:

• Expanded the board of directors, with the addition of independent directors who bring to the board extensive digital asset and venture investing experience, along with accreditation in public accounting, institutional fund governance, and fiduciary corporate services.
• Upgraded third-party service, audit, and advisory partners to institutional-grade standards.
• Established rigid internal standards for monitoring and disclosing token treasury activities.
  

These are just some of the enhancements made by the Foundation to further professionalize corporate governance and oversight across the Movement Network. These improvements are intended to ensure accountability and support the continued rebuilding of confidence in the Movement Network.

Legal Matters

The independent directors of the Foundation Board engaged Paul Hastings and A&O Shearman to continue the third-party review of market maker issues concerning Movement Labs in 2025. This independent review remains ongoing.

Paul Hastings and A&O Shearman are also engaged on behalf of the Foundation with respect to multiple litigation matters in the Delaware Court of Chancery involving former company officers of Movement Labs. The Foundation is not a party to these litigation matters but will continue to monitor them closely in its role as a steward of the Movement Network.

The independent directors of the Foundation Board are committed to ensuring these legal and corporate governance matters are resolved in the best interests of the Movement Network.

The Board of the Movement Network Foundation said: “Over the last year, the Foundation has been focused on protecting the Movement ecosystem and navigating back to safe ground. We have not lost sight of past events and will continue to support outcomes that hold bad actors accountable. We also see reasons for optimism going forward. Today, the Movement Network has new operating leadership, upgraded corporate governance, and a fresh roadmap. These achievements help provide the ecosystem with the opportunity for a second chance, which is rare enough for early-stage projects and almost unheard of in crypto.”

About Movement Network Foundation
Movement Network Foundation serves as the independent steward of Movement Network, a Move-based blockchain platform designed for scalability, security, and developer empowerment. The Foundation supports builders, fosters community growth, and oversees the network’s long-term development by appointing and supervising specialized service providers, including Move Industries.

CONTACT

Ethan Lyle
Prospero
mnf@prospero.agency