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LATEST: ⚡ Movement Labs has filed for Chapter 11 bankruptcy in Delaware, listing up to $10M in liabilities against $100,001-$500,000 in assets.
A few insiders reached out to me regarding this tweet: 1) The foundation has allegedly changed the $LAB vesting schedule before to keep the pump going. The next unlock is now reportedly pushed to August. 2) They’re making deals with CEXs, handing over large amounts of $LAB tokens so they let the scam run on their exchanges. 3) The market maker behind the $LAB pump is reportedly the same one involved in the massive Movement Labs $MOVE pump and dump. 4) The funniest part: investors are apparently not allowed to derisk through OTC desks because the team is currently negotiating with an OTC desk to sell its own tokens. lol
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