Movement Labs files for Chapter 11 bankruptcy protection after scrutiny over rapid sale of 66 million MOVE tokens
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Odaily reports that Movement blockchain developer Movement Labs has filed for Chapter 11 bankruptcy protection. Previously, the project came under scrutiny due to a market-making agreement that allowed the rapid sale of 66 million MOVE tokens, after which the price of MOVE dropped sharply, prompting an investigation and a token buyback.
Recently, Movement Labs shifted its focus to cross-border payments and stablecoin settlement business. During the Chapter 11 process, the next steps for its blockchain network, partnerships, and payment expansion plans remain unclear, but operations can continue during the restructuring.
Recently, Movement Labs shifted its focus to cross-border payments and stablecoin settlement business. During the Chapter 11 process, the next steps for its blockchain network, partnerships, and payment expansion plans remain unclear, but operations can continue during the restructuring.
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华尔街见闻•2026/09/12 00:46
