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Movement Labs Files for Chapter 11 Bankruptcy With $1M+ Liabilities, Assets Under $500K

2026-07-22 14:12:03

According to court documents, Movement Labs, developer of the Movement blockchain network, has filed for Chapter 11 bankruptcy protection due to financial difficulties. The company's assets range from $100,000 to $500,000, while liabilities exceed $1 million. The filing states the company has fewer than 1,000 creditors.

The largest creditors include co-founder Rushi Manche, Delaware Division of Revenue, and Anchorage Digital, a digital asset custody provider. Chapter 11 allows the company to restructure its debts while continuing operations.

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