Movement Labs Files for Bankruptcy | Bitcoin and Crypto News

Movement Labs, the team behind the Ethereum layer-two blockchain, has filed for Chapter 11 bankruptcy to restructure amid turmoil from its MOVE token launch and controversial market-making deals. The token, now trading near one cent after a 94% plunge, contributed to severe financial strain. Coinbase suspended trading due to non-compliance. Crucially, the CEO clarified that Move Industries — which took over development in December 2025 — remains unaffected. Movement Labs can continue operating with court-approved access to funds and financing, while creditors have until September 14 to file claims. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/9a60068a863feb13