Movement is relaunched as an independent Layer 1 blockchain Foresight News reported that according to The Block, the new CEO of Move Industries, Torab Torabi, stated that the Ethereum Layer 2 blockchain Movement, which was controversial shortly after its launch last year, has been relaunched as an independent Layer 1 blockchain with the aim of becoming a stablecoin settlement solution for emerging markets. The project still uses the MOVE programming language. \According to the announcement, the company has collaborated with multiple institutions, including stablecoin issuer Circle, wallet startups KAST and Sorted, as well as tokenization projects Oro, Yuzu Money, and Zoth, to launch a range of products and services. For example, Avant Protocol has integrated into the Movement Network to provide support for its revenue and treasury products. \Torabi stated that as part of the network restart, the Movement Network Foundation also provided investors with an exit mechanism, ultimately repurchasing approximately 19% of the tokens previously allocated to investors - equivalent to 4.2% of the total supply.