Movement Labs Files for Chapter 11 Bankruptcy Protection, Previously Under Scrutiny for Rapid Sale of 66 Million MOVE Tokens
2026-07-21 17:56
Odaily Odaily Planet Daily News: Movement Labs, the developer of the Movement blockchain, has filed for Chapter 11 bankruptcy protection. The project previously came under scrutiny due to a market-making agreement that allowed for the rapid sale of 66 million MOVE tokens, leading to a significant price decline in MOVE, followed by investigations and a token buyback.
Movement Labs recently pivoted to cross-border payments and stablecoin settlement services. During the Chapter 11 process, the subsequent arrangements for its blockchain network, partnerships, and payment expansion plans remain unclear, but operations can continue during the restructuring period.
Movement Labs recently pivoted to cross-border payments and stablecoin settlement services. During the Chapter 11 process, the subsequent arrangements for its blockchain network, partnerships, and payment expansion plans remain unclear, but operations can continue during the restructuring period.
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