movement (MOVE)

🚨BREAKING: Movement Labs once raised $141M and targeted a $3B valuation. However, they just filed bankruptcy with $100K in assets. daily app revenue was just under $800, made single digit fees for months, it's the scandal that killed trust first. In December 2024, a market-making deal handed 66 million $MOVE tokens, 5% of the supply, to an intermediary. That wallet sold the next day for $38M. Binance banned the account and froze the profits. Token's crashed over 97% from its ATH. FDV sits at $106M now. The former co-founder Rushi Manche, who got fired over the token scandal is now on the list of people the company owes money to.

HUGE: Movement generated near-zero revenue and fees for months before bankruptcy. DefiLlama data shows daily app revenue stayed below $800, while daily chain fees fell to single digits for months since November. Movement’s $MOVE token is down over 97% from its ATH, with its FDV collapsing to around $106M. Movement Labs has now filed for Chapter 11, listing just $100K in assets against liabilities of up to $10M.

How is a token from an officially bankrupt company still sitting at a $100M FDV? Straight to zero. https://t.co/77oAUkesjY

Talk about losing money fast, it has to be the crypto world! Boxer Zou Shiming's wife Ran Yingying took a full 7 years to lose 200 million RMB completely. And the crypto project Movement went from launch to bankruptcy in about a year and a half. Movement raised over $140 million in total, with its Series B round reaching $100 million, using a hybrid token‑plus‑equity agreement. Whether the money actually arrived is still unclear to the public. Even just the first two rounds amounted to over $40 million, which in RMB already far exceeds the entire net worth of the boxer couple. In the crypto sphere, money comes fast and goes even faster. You might think you're investing in the future, but you could end up not even having any underwear left. #Movement

Top crypto VC firms gave 140M to a weirdo who invents a new language for a living And made him rich Oh and probably made a ton of $$$ on this too Not a serious industry https://t.co/Hu0TFiZMny

Yet another story of a major scam has come to an end here🧐 Movement Labs has filed for bankruptcy. The project raised $141M and was heading towards a valuation of $3 billion 👀 According to the petition, its assets amount to less than $500 K. The token is down 99%. The most interesting thing is that it wasn’t the market that brought them down. A dodgy deal with a market maker, a dump of 66 million tokens the day after listing, a ban from Binance, and a war between the founders. And first in line among the creditors is their own sacked co‑founder, with a claim for $1.6 million 🤡 Yet another confirmation that a big funding round doesn’t make a project good. Nothing can replace one thing: a team you can trust.

Movement Labs has filed for Chapter 11 bankruptcy. A project that once had major attention in the crypto space is now facing serious financial difficulties. This is a reminder of how quickly things can change in this industry. Narratives move fast. Capital moves faster. The chart tells the story.

Movement Labs reports that movement:native is filing for insolvency under pressure. The original developer behind the Movement blockchain has applied for creditor protection under Chapter 11 in the United States. The project most affected is the one revolving around the MOVE token, which has already lost trust due to a controversial market‑making deal, massive token sales, and governance issues. This does not automatically mean the blockchain is finished: Move Industries has taken over development and states it will continue operating as an independent company. For MOVE investors, the situation remains highly risky, and a legal separation does not protect the price from the next loss of confidence.