TLDR Tech / Crypto
Movement Labs Files for Chapter 11 Bankruptcy
Movement Labs, the team behind the Movement blockchain, has filed for Chapter 11 bankruptcy protection, listing $100,000 to $500,000 in assets against more than $1 million in liabilities and fewer than 1,000 creditors. Top creditors named in the filing include co-founder Rushi Manche, the Delaware Division of Revenue, and custodian Anchorage Digital. The filing caps a fallout that began with controversy over MOVE token market-making, an internal investigation, and Binance's ban of the associated market-making account. Manche exited the company in May 2025 amid that controversy and now ranks among its largest creditors in the bankruptcy proceeding.
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