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Movement Labs Files Chapter 11 Bankruptcy After 66M MOVE Token Dump

Enforcement Actions Exchange Risk

2026-07-21 18:00:40

MOVE1.02%

According to Odaily, Movement Labs, the developer of the Movement blockchain, filed for Chapter 11 bankruptcy protection recently. The filing follows scrutiny over a market-making agreement that enabled rapid sales of 66 million MOVE tokens, triggering a sharp price decline, regulatory investigation, and token buyback efforts.

During the Chapter 11 restructuring process, the status of the blockchain network, partnerships, and payment expansion plans remains unclear, though operations will continue.

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