Movement Labs2026-07-22 00:00:39Movement Labs files for Chapter 11 as MOVE market-making dispute hangs over the companyMVMT Labs Inc., the Ethereum Layer 2 developer behind Movement Labs, filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of Delaware on July 15, using the small-business reorganization path under Subchapter V. Court records tie the company’s operating crisis to controversy surrounding a market-making agreement after the launch of the MOVE token, an episode that also led to the departure of co-founder Rushi Manche. According to court documents and prior reporting cited in the source material, a deal linked to Web3Port resulted in 66 million MOVE tokens, equal to 5% of total supply, being sold into the market. The tokens were valued at about $38 million, and the sell-off was followed by a sharp price drop. Coinbase later suspended MOVE trading, while Binance froze the account tied to the incident. Earlier CoinDesk reporting said Movement had been examining whether it was misled into signing a market-making agreement that gave a rival excessive control over circulating supply. The reporting also referenced Rentech, an intermediary named in contracts related to Web3Port; Rentech denied wrongdoing or false statements. The filing lists assets of $100,001 to $1 million, liabilities of $1 million to $10 million, and between 200 and 999 creditors. A creditors’ meeting is scheduled for Aug. 20, with claim filings due by Sept. 14.1860
Movement Labs2026-07-22 00:02:00Movement Labs files for Chapter 11, with ousted co-founder’s $1.6 million claim as top unsecured debtMovement Labs, the former core development company behind the Movement blockchain, filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of Delaware earlier this month, according to The Block. A filing dated July 15 shows the company reported assets of $100,000 to $500,000 and liabilities of as much as $10 million, with nearly 299 creditors listed. The largest unsecured claim, worth more than $1.6 million, belongs to ousted co-founder Rushikesh Manche. The filing adds another turn to the fallout surrounding Movement’s MOVE token launch. Manche still holds a 34.25% equity stake and had previously sued over legal expenses tied to a Department of Justice grand jury investigation related to the token issuance controversy, a case he won support in. Movement Labs had served as the core developer of the Ethereum Layer 2 network Movement Network and had raised $38 million in a Series A round led by Polychain. After the MOVE token launch crisis in December 2024, core development work was shifted to Move Industries.1800
Movement Labs2026-07-21 17:56:08Movement Labs files for Chapter 11 after scrutiny over rapid sale of 66 million MOVEMovement Labs, the developer behind the Movement blockchain, has filed for Chapter 11 bankruptcy protection. The filing follows earlier scrutiny tied to a market-making agreement that allowed the rapid sale of 66 million MOVE tokens. After those sales, the token’s price fell sharply, triggering an investigation and a token buyback. The company has recently shifted its focus toward cross-border payments and stablecoin settlement. During the Chapter 11 process, the future of its blockchain network, existing partnerships, and broader payment expansion plans remains unclear. Operations, however, can continue while the restructuring process is underway. The development puts renewed attention on the project’s earlier token-sale controversy and leaves key questions unresolved about how its business and network plans will proceed under court-supervised reorganization.1780
Movement Labs2026-07-21 17:54:40Movement Labs files for Chapter 11 after months of turmoil tied to MOVE token launchMovement Labs has filed for Chapter 11 bankruptcy protection after months of upheaval, according to CoinDesk. The filing follows a turbulent stretch that included a controversial market-making agreement, an internal investigation into the launch of its MOVE token, a Binance ban linked to its market maker, and a late strategic shift away from Ethereum scaling toward cross-border payments. The case marks another turn in a saga that has unfolded over the past several months, with the company moving from token-launch scrutiny to a broader overhaul of its business direction. CoinDesk reported the filing on July 21, with the article published at 5:54 p.m. UTC and later updated at 5:58 p.m. UTC.1810
Movement Labs2026-07-10 09:13:13Former Movement Labs Co-Founder Launches $100M Crypto Investment Firm Nyx GroupRushi Manche, formerly of Movement Labs, has launched Nyx Group, a crypto investment firm that plans to deploy up to $100 million in liquidity to token projects while supporting compliance, community, and governance.440
Korea Blockch2026-07-09 11:52:13Korea Blockchain Week 2024 Taps Movement Labs as Official Conference Partner, Expects 10,000 AttendeesKorea Blockchain Week 2024 has named Movement Labs as the official partner of its IMPACT conference, while unveiling new speakers and sponsors. The Seoul event is expected to draw more than 10,000 attendees and spotlight AI, DeFi, restaking, and RWA tokenization.1900
