MVMT LABS FILES CHAPTER 11 đšâïž
MVMT Labs, the early company shell tied to the Movement chain, filed Chapter 11 (court protection to restructure debt) in Delaware on 15 July 2026. đ
Court forms put assets roughly in the $100k to under $1M band, liabilities in the $1M-$10M band, and under 1,000 creditors. The biggest unsecured claim in coverage sits with ousted co-founder Rushi Manche, over $1.6M.
This is the end of a long drama, not a clean surprise.
In airdrop season, Movement was one of the hottest farms. Points, exchange hype, big âmust farmâ energy. Right after launch and the airdrop, everything flipped.
A market-making deal (a firm paid to keep trading smooth) turned into a sell storm: about 66M $MOVE sold, market-maker profit near $38M in reports, then a Binance ban on the related account. Manche was suspended, then cut, around May 2025.
$MOVE fell from about $1.45 ATH toward about $0.0107 now (market cap near $45M, roughly 99% down). đđž
The team once raised about $38M Series A. The contested dump profit also sat near $38M. Court assets are a tiny slice of either number. đ§
Move Industries (CEO Torab Torabi) says it is a separate company, not inside this filing, and still building payments / stablecoin rails.
Chapter 11 is the paperwork. The wound started the day the airdrop heat met the post-launch dump.
#Crypto #MOVE #Bankruptcy #Airdrop #Binance
MVMT Labs, the early company shell tied to the Movement chain, filed Chapter 11 (court protection to restructure debt) in Delaware on 15 July 2026. đ
Court forms put assets roughly in the $100k to under $1M band, liabilities in the $1M-$10M band, and under 1,000 creditors. The biggest unsecured claim in coverage sits with ousted co-founder Rushi Manche, over $1.6M.
This is the end of a long drama, not a clean surprise.
In airdrop season, Movement was one of the hottest farms. Points, exchange hype, big âmust farmâ energy. Right after launch and the airdrop, everything flipped.
A market-making deal (a firm paid to keep trading smooth) turned into a sell storm: about 66M $MOVE sold, market-maker profit near $38M in reports, then a Binance ban on the related account. Manche was suspended, then cut, around May 2025.
$MOVE fell from about $1.45 ATH toward about $0.0107 now (market cap near $45M, roughly 99% down). đđž
The team once raised about $38M Series A. The contested dump profit also sat near $38M. Court assets are a tiny slice of either number. đ§
Move Industries (CEO Torab Torabi) says it is a separate company, not inside this filing, and still building payments / stablecoin rails.
Chapter 11 is the paperwork. The wound started the day the airdrop heat met the post-launch dump.
#Crypto #MOVE #Bankruptcy #Airdrop #Binance