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Movement Labs files Chapter 11 with $10M liabilities amid MOVE token controversy

Market News
21 Jul 2026
Crypto news
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Bearish
pluang ai news

Movement Labs filed for Chapter 11 bankruptcy in Delaware, listing up to $10 million in liabilities and less than $500,000 in assets, following turmoil around its MOVE token. The company faced a scandal involving market manipulation and token sales that led to a sharp price drop and trading suspensions. Despite the bankruptcy, Move Industries, which now handles development and operations of the Movement blockchain, remains unaffected and continues building the network. This filing highlights ongoing challenges in the crypto sector, especially for projects with governance and market integrity issues.

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