Blockchain Press Releases
Move Industries Launches New Era for Movement

Leadership transition and new organizational structure reinforce commitment to core technology and enhanced governance
SAN FRANCISCO, May 7, 2025 /PRNewswire/ — Movement Labs, a Web3 company and core contributor of the Movement Network, today announced the establishment of Move Industries by two Movement employees. The newly formed Move Industries has been established to ensure a more simplified and focused operational structure, including new executive leadership.
Torab Torabi, a founding member of Move Industries, will lead the company as CEO. In addition, Will Gaines will serve as President and Chief Marketing Officer and Young Yang Liauw will continue overseeing engineering. Mr. Liauw brings significant blockchain engineering expertise from his time at Aptos as Head of Move along with positions at Novi and Meta, where he worked on the Libra team.
Move Industries is committed to maintaining Movement’s position as a leading Move-based blockchain ecosystem. Move Industries’ three core pillars are Community/Brand, Engineering/Product, and Ecosystem/Business Development. The new endeavor will operate with enhanced accountability measures, providing a stronger foundation for the Movement ecosystem’s future growth and success.
“Today marks the beginning of an exciting new chapter for the Movement,” said Torabi. “We are putting in place the structures needed for our company to thrive, which includes a full commitment to our ecosystem builders and community. They are at the heart of everything we do. Our team remains heads down, improving chain performance, increasing economic activity on-chain, and supporting the incredible projects being built on the Movement Network. We will continue full steam ahead to fulfill our promises.”
Movement Labs has also terminated Co-Founder Rushi Manche.
Additionally, Co-Founder Cooper Scanlon is voluntarily passing the torch to Torab Torabi, to lead Move Industries.
“It has been an incredible journey bringing the Movement vision to life and I’m immensely proud of what we’ve built together,” said Scanlon. “Torab has been instrumental to Movement’s development from the beginning, and I have complete confidence in his leadership abilities and vision for the future. I will continue to support the Movement and advocate as the team writes this next chapter.”
Move Industries will operate under improved governance, including expanded board oversight and transparent decision-making processes.
“The Movement community has stood with us through both triumph and challenge,” said Gaines. “With Move Industries, we’re returning to our founding principles: self-sovereignty, creativity, and systems that serve people. This next chapter will ensure we continue building world-class infrastructure, world-class businesses and a world-class movement.”
About Move Industries
Move Industries is building a community-first Move-based blockchain ecosystem. Led by a team of industry veterans, Move Industries maintains a dual focus on technology and community. The organization intends to return to crypto’s radical roots: giving financial power and opportunity back to the people.
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Blockchain Press Releases
GRVT Launches Biggest Ever Trading Competition for Retail Traders, Offering Up to 175,000 USDT in Prizes

SINGAPORE, May 7, 2025 /PRNewswire/ — GRVT (pronounced “gravity”), the world’s first licensed onchain exchange – is excited to announce its largest trading competition to date, running from May 7 to June 5, 2025. The competition offers retail traders the chance to win a share of up to 175,000 USDT and 85 million Trader Points.
The event is open to all KYC-verified GRVT users and features a volume-based rewards system with nine reward bands and 15 prize levels. Participants will be rewarded based on their total trading volume during the competition period. The total reward pool will expand as the overall trading volume increases.
Early participants can also take advantage of special bonus rewards, and lucky traders will receive exclusive GRVT-branded merchandise.
Hong Yea, co-founder and CEO of GRVT, commented, “This trading competition marks the biggest event for our retail traders since our Mainnet launch at the end of last year. I am incredibly proud of what the team has delivered since Mainnet, and I’m grateful for the enthusiasm and support from our global community. We are committed to continuous improvement and look forward to bringing even more exciting opportunities to our users.”
For full details about the GRVT Trading Competition, including the complete rules and reward structure, please visit: https://help.grvt.io/en/articles/11168184-grvt-trading-rush
Disclaimer: Perpetuals trading of cryptocurrencies is subject to high market risk and price volatility and you may be called upon at short notice to commit further margin deposits or risk being liquidated. This content is not a distribution of, or an offer or solicitation to provide, financial services or products, nor a representation as to their suitability or legality for you. GRVT is not a regulated entity and your funds are not subject to regulatory protection. Before making any decision based on this content, please seek financial and legal advice, and carefully review our Risk Disclosure and Disclaimer in full.
Singapore users: GRVT is not licensed, approved, authorised, designated, recognised, registered or otherwise regulated under any legislation administered by the Monetary Authority of Singapore (“MAS”). As such, users will not have the benefit of any regulatory safeguards imposed by the MAS.
About GRVT
GRVT (pronounced “gravity”) is a blockchain-based platform that is democratizing how wealth is created and shared. It allows everyday people to trade, invest, and grow their wealth by providing direct access to top industry traders and investors. As the world’s first licensed onchaindecentralized exchange, GRVT is where traditional banking meets decentralized innovation on one regulated, compliant, trustless financial market place.
GRVT official website: https://grvt.io/
For media inquiries, contact: [email protected]
Social and Community: X | LinkedIn | Telegram | Discord

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View original content:https://www.prnewswire.co.uk/news-releases/grvt-launches-biggest-ever-trading-competition-for-retail-traders-offering-up-to-175-000-usdt-in-prizes-302448583.html
Blockchain Press Releases
Pharos Network Unveils High-Performance Layer 1 Testnet to Unlock RWA Adoption

HONG KONG, May 7, 2025 /PRNewswire/ — Pharos Network, a high-performance blockchain built for real-world assets (RWAs), announced the launch of its Testnet today. Designed for institutional-grade RWAs and enterprise-scale DeFi, Pharos offers a next-generation, modular infrastructure that addresses the key bottlenecks preventing institutions from entering Web3. The platform powers scalable deployment of decentralized applications, enables efficient payment solutions, and unlocks new use cases for tokenized assets.
The Pharos Testnet achieves up to 30,000 transactions per second with one-second finality, setting a new benchmark for Layer 1 blockchain performance. Its GPU-like architecture could support billions of users and reduce storage usage by 80%. The network also features built-in support for decentralized AI and privacy preserving SPN. With ZK-based KYC/AML capabilities, Pharos ensures enterprise-ready security and compliance. It remains fully EVM-compatible, offering faster and cheaper transactions, while enabling flexible, on-chain innovation.
Pharos’s product stack directly addresses the core bottlenecks in RWA adoption—scalability, compliance, and flexibility—unlocking new use cases across sectors such as renewable energy industry finance, payment, supply chain finance, and tokenized real estate. Its modular, high-throughput infrastructure enables secure deployment of RWA at scale, while meeting the regulatory and performance demands of the financial industry.
A growing ecosystem is already emerging on the Pharos Testnet, enabling innovative Defi use cases for RWAs. As an early collaborator of Pharos, OKX Wallet will support Pharos Testnet natively at launch. Early Pharos ecosystem projects include Zenith Swap, ELFi, Buzzing Club, Nextmate.AI, Faroswap, R2, OpenFi, Hemera, Blocksense, Supra, and more.
Founded by former AntChain and Alibaba blockchain leaders, the Pharos team brings deep enterprise experience, uniquely positioning it to deliver enterprise-grade solutions for institutions exploring green finance, payments, and new forms of programmable ownership and asset tokenization.
“The Pharos Testnet represents a significant milestone in our mission to unlock the true potential of RWAs. By providing a high-performance, scalable, and adaptable platform, Pharos meet the needs of bringing real world assets on a chain and bringing utilities to these assets.” said Alex Zhang, CEO of Pharos Network. “We’re excited to watch innovation flourish on Pharos and accelerate the convergence of traditional finance and decentralized technology.
Developers and users can access and experience the Testnet by visiting testnet.pharosnetwork.xyz.
About Pharos
Pharos Network is a revolutionary Layer 1 blockchain platform that sets new benchmarks in decentralized technology with its extreme performance and scalability. Founded by ex-blockchain leaders from Ant Financial and Alibaba, Pharos aims to build the best chain for RWAs and enterprise-grade DeFi, achieving the highest EVM Layer-1 performance with 50K TPS and being the first to reach 2 gigagas/sec. In addition, Pharos is a co-developer of SmartCogent, an AI toolkit for large language models (LLMs), and the core development team of DTVM technology. For more information, please visit https://pharosnetwork.xyz.
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Blockchain Press Releases
Cango Inc. Maintains Strong Mining Efficiency and Expands Bitcoin Holdings Amidst April Production Shift

SHANGHAI, May 7, 2025 /PRNewswire/ — Cango Inc. (NYSE: CANG), a leading bitcoin mining company, recently released its April 2025 production update for its crypto mining operations.
In April 2025, Cango mined a total of 470.0 Bitcoins, an 11.3% decrease compared to 530.1 Bitcoins mined in March 2025. The average daily Bitcoin production was 15.7 in April, compared to 17.1 in March.
Despite the month-over-month production dip, Cango increased its total Bitcoin holdings, reaching 2,944.8 as of April 30, 2025, up from 2,474.8 at the end of March. The Company’s deployed hashrate remained consistent at 32 EH/s, while the average operating hashrate was 29.9 EH/s, compared to 30.3 EH/s in March 2025.
“The production decline in April was mainly due to a significant surge in the global hashrate, marking its second-largest monthly increase ever recorded. Consequently, the mining difficulty rose by 8% compared to March,” said Jiayuan Lin, Chief Executive Officer of Cango, “Despite this short-term fluctuation in production volume, we remain firmly committed to our Bitcoin holding strategy. With the current value of our Bitcoin holdings at $279 million, we are confident that our strategic initiatives and ongoing operational enhancements will continue to generate long-term value for our stakeholders.”
About Cango Inc.
Cango Inc. (NYSE: CANG) primarily operates a leading Bitcoin mining business. Cango has deployed its mining operation across strategic locations including North America, Middle East, South America, and East Africa. Cango expanded into the crypto assets market in November 2024, driven by the development in blockchain technology, increasing prevalence of crypto assets and its endeavor to diversify its business. Meanwhile, Cango has continued to operate the automotive transaction service in China since 2010, aiming to make car purchases simple and enjoyable. For more information, please visit: www.cangoonline.com.
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View original content:https://www.prnewswire.co.uk/news-releases/cango-inc-maintains-strong-mining-efficiency-and-expands-bitcoin-holdings-amidst-april-production-shift-302448355.html
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