Movement Labs files for Chapter 11 bankruptcy months after token scandal
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Movement Labs, the developer of the Movement blockchain, has filed for Chapter 11 bankruptcy following months of turmoil that included a controversial market-making agreement, an internal investigation into its MOVE token launch, a Binance ban tied to its market maker, and a last-ditch pivot from Ethereum scaling to cross-border payments. The filing leaves the future of its blockchain network, partnerships, and payments expansion plans uncertain, though operations may continue during restructuring.
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