Wu Blockchain(@WuBlockchain):Movement Labs Files for Chapter 11 Bankruptcy With Liabilities Above $1 Million Movement Labs, the developer of the Movement blockchain, has filed for Chapter 11 bankruptcy protection. Court filings show the company has between $100,000 and $500,000 in assets, more than $1 million in liabilities and fewer than 1,000 creditors. Its largest creditors include co-founder Rushi Manche, the Delaware Division of Revenue and Anchorage Digital. The filing follows controversy over MOVE token market-making, an internal investigation and Binance’s ban of the related market-making account. Movement Labs parted ways with Manche in May 2025.

2026.07.21 18:53

Movement Labs Files for Chapter 11 Bankruptcy With Liabilities Above $1 Million Movement Labs, the developer of the Movement blockchain, has filed for Chapter 11 bankruptcy protection. Court filings show the company has between $100,000 and $500,000 in assets, more than $1 million in liabilities and fewer than 1,000 creditors. Its largest creditors include co-founder Rushi Manche, the Delaware Division of Revenue and Anchorage Digital. The filing follows controversy over MOVE token market-making, an internal investigation and Binance’s ban of the related market-making account. Movement Labs parted ways with Manche in May 2025.