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What happened?
Movement Labs, a Web3 company, announced the formation of Move Industries by two employees to streamline operations and introduce new leadership. Meanwhile, Movement Labs terminated its co-founder Rushi Manche following a review into governance and market-related issues. Additionally, AltNovel and 3iQ launched the first multi-strategy digital assets fund in the Middle East, while Ledger expanded its integration with Transak to enhance crypto-to-fiat conversions.
Who does this affect?
The developments impact multiple stakeholders including the teams at Movement Labs and Move Industries, as well as professional investors interested in digital assets in the Middle East due to the new AltNovel and 3iQ fund. Crypto users who utilize Ledger’s hardware wallets will also see enhanced capabilities for crypto-to-fiat transactions through the integration with Transak. Moreover, the broader cryptocurrency community is affected by the green movement in the crypto market today.
Why does this matter?
The creation of Move Industries and the organizational changes at Movement Labs could lead to greater innovation and accountability within the Web3 space. The launch of a digital assets fund in the Middle East by AltNovel and 3iQ could attract significant capital and attention to the region’s growing crypto industry. Lastly, Ledger’s expanded integration with Transak could increase user confidence in converting crypto holdings to fiat without relying on centralized exchanges, potentially boosting market liquidity and accessibility.
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