Movement Labs files for Chapter 11 bankruptcy after months of MOVE token turmoil
CoinTelegraph·
60-second summary
Movement Labs files for Chapter 11 bankruptcy, continuing to operate under court supervision as it restructures amidst turmoil caused by a market-making scandal, a co-founder's suspension, and exchange delistings that have rocked the project, affecting the value of its MOVE token, which has struggled to regain stability in a volatile cryptocurrency market landscape.
The blockchain developer will continue operating under court supervision as it restructures following a market-making scandal, a co-founder’s suspension, and exchange delistings that rocked the project.