DevTechmemeabout 1 hour ago
Movement Labs files Chapter 11 bankruptcy
1 min read
Movement Labs, developer of the Movement Ethereum layer-2 blockchain, filed for Chapter 11 bankruptcy in Delaware on July 15 under Subchapter V. The filing follows a market-making scandal, co-founder Rushi Manche's suspension, and Coinbase delisting MOVE, which fell over 94% to roughly $0.01. Move Industries CEO Torab Torabi said the bankruptcy applies only to Movement Labs.
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