Movement Labs Files for Chapter 11

Rickler Feed (@rickler_feed), Jul 22, 2026, 08:00 UTC

Movement Labs Files for Chapter 11 Movement Labs, the developer behind the MOVE blockchain, has filed for Chapter 11 bankruptcy — months after a market-making scandal and a strategic overhaul gutted the project. The filing lists under 1,000 creditors, $100K–$500K in assets and over $1M in liabilities under a Subchapter V small-business restructuring. It caps a fall from a ~$3B valuation, with MOVE down roughly 99%. The 2025 scandal saw a market-making deal dump 66M MOVE, crashing the price and prompting a Coinbase suspension. CEO Torab Torabi says separate entity Move Industries keeps runnin…

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