Movement Labs files for Chapter 11 bankruptcy months after token scandal and strategic overhaul

Published Jul 21, 2026 17:54 UTC

What the source reports

The filing comes after months of upheaval that included a controversial market-making agreement, an internal investigation into its MOVE token launch and a Binance ban tied to its market maker.

Read the original report on CoinDesk ↗

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Movement Labs files for Chapter 11 bankruptcy after months of MOVE token turmoil

The blockchain developer will continue operating under court supervision as it restructures following a market-making scandal, a co-founder’s suspension, and exchange delistings that rocked the project.

CoinTelegraph Jul 21, 2026 20:59 UTC