cryptd.in

암호화폐 친화적인 인재를 위한 대체 링크드인

$141M Fundraise to $8 Daily Fees: Movement Labs Files for Bankruptcy

-

by

cryptd.in
in

Movement Labs has filed for Chapter 11 insolvency protection in the U.S. Bankruptcy Court of Delaware.

This follows months of controversy and a token scandal that left the network dealing with major financial issues.

Movement’s Bankruptcy Timeline

In its bankruptcy filing, the company 말했다 it has under 1,000 creditors, between $100,000 and $500,000 in assets, and more than $1 million in liabilities. The largest unsecured claim, worth more than $1.6 million, belongs to former co-founder Ruhikesh Manche. Other major creditors are the Delaware Division of Revenue and Anchorage Digital.

The firm’s problems started in December 2024, after it launched its MOVE token. But shortly after its debut on Binance, some $66 million worth of the tokens were dumped onto the market as part of a market-making deal with Rentech. This sudden increase in supply led to its price tumbling and wiped out billions of dollars in value within days.

Binance later banned Rentech for misconduct, accusing it of selling the entire stash just one day after the listing while placing very few buy orders. According to the exchange, the market maker earned a profit of $38 million before it removed it from its platform on March 18.

Movement then launched a token buyback program in response to repurchase MOVE tokens and restore liquidity to the ecosystem. It also contracted Groom Lake to review its deal with Rentech, after which it was discovered that it had ties to the Chinese market maker Web3Port, ultimately leading to the dismissal of Manche over the scandal.

Per the bankruptcy filing, the first creditor hearing is scheduled for August 20.

From $141M to $8 in Daily Fees

Interestingly, Movement had raised a total of $141.4 million across several funding rounds, including a Series A led by Polychain Capital. On paper, that level of funding should have provided the project with some financial stability, but the network’s on-chain activity tells a different story.

DeFiLlama data shows its daily app revenue has been less than $800 since November 2025. The project’s chain fees have also stayed in the single digits for months, with returns for the last 24 hours at just $8 per the same source.

MOVE hit a new all-time low on July 20, after a stormy few months where it went from about $0.041 in January to $0.01043 two days ago. At the time of writing, it had moved less than 2% from the all-time low, with its new level representing a plunge of over 99% from its all-time high of $1.45, according to CoinGecko data. Meanwhile, the network’s Total Value locked (TVL) sits at roughly $133 million.

Movement was originally made to link blockchains built on its Move programming language with Ethereum. But the layer-2 network announced in June that it would be pivoting toward cross-border payments, remittances, and dollar-saving products.

게시물 $141M Fundraise to $8 Daily Fees: Movement Labs Files for Bankruptcy 에 처음 등장 크립토포테이토.

댓글

답글 남기기

이메일 주소는 공개되지 않습니다. 필수 필드는 *로 표시됩니다

최신 피드

인기 카테고리

ko_KR 한국어
ko_KR 한국어 en_US English ro_RO Română et Eesti ja 日本語 ru_RU Русский de_DE Deutsch es_ES Español zh_CN 简体中文 fr_FR Français zh_TW 繁體中文 pt_PT Português it_IT Italiano pl_PL Polski tr_TR Türkçe nl_NL Nederlands id_ID Bahasa Indonesia el Ελληνικά uk Українська bg_BG Български cs_CZ Čeština fi Suomi hu_HU Magyar lv Latviešu valoda lt_LT Lietuvių kalba nb_NO Norsk bokmål sk_SK Slovenčina sl_SI Slovenščina sv_SE Svenska

웹사이트 검색

인기 스토리

태그

#AlexeyPertsev (1) #BidenCryptoBan (1) #BidenElection (1) #BinanceVsCoinbase (1) #B비트코인 (455) #BitcoinETF (3) #B비트코인기초 (1) #B비트코인 취급 (1) #B비트코인가격 (5) #B비트코인가격수준 (1) #B비트코인펌프 (1) #B비트코인예치 (1) #B비트코인서지 (1) #BitcoinTop (1) #Bitfinex (1) #B비트 단위 (1) #브레이스브리지캐피털 (1) #BRC20토큰 (1) #BTC취득 (1) #B울리스틱 예측 (1) #BullishSentiment (1) #C중국광업 (1) #CPIP리뷰 (1) #CryptoAsset (2) #CryptoBattle (1) #CryptoBoom (1) #CryptoExpert (1) #CryptoInsights (1) #CryptoMania (1) #CryptoMarket (4) #CryptoPrediction (1) #CryptoPredictions (1) #CryptoRegulation (2) #CryptoTakeoff (1) #CryptoTiming (1) #CryptoTips (1) #CryptoTreasury (1) #CryptoUncertainty (1) #DerivativeJump (1) #Dogecoin (74) #DogecoinGains (1) #DogecoinVolume (1) #DutchCourt (2) #ECommerce (1) 1TP5테엘살바도르비트코인 (1) 1TP5테더리움 (74) 1TP5테더리움통증 (1) 1TP5테더리움가격 (1) 1TP5전문가 의견 (1) #FedRateCut (1) #FiatCurrency (1) #FinancialImpact (1) #FinancialPrivacy (1) #FirmShutdown (1) #FrozenAccounts (1) #IllicitFunds (1) #인플레이션데이터 (1) #투자 (1) #투자손실 (1) #일본기업 (1) #LegalAction (1) #LegalImpact (1) #법률 (1) #라이트닝 네트워크 (1) 1TP5시장분석 (3) 1TP5시장 모니터링 (1) 1TP5시장 예측 (1) 1TP5시장 예측 (1) #MarketProjection (1) 1TP5마켓지원 (1) 1TP5시장변동성 (1) #M결혼 (1) #MemeCoin (5) #MemeCoins (2) #M광부수익성 (1) #MoneyLaundering (2) #MtGox (4) 1TP5북한암호화 (1) 1TP5노보그라츠예측 (1) #P가격 마일스톤 (1) #P가격 예측 (2) #P가격 질문 (1) #PriceSurge (1) #P형량 (1) #QuantAnalysis (1) 1TP5규제압력 (1) #SEC안티크립토 (1) #ShibaInu (6) #SocialBuzz (1) 1TP5기술분석 (1) #Toncoin (3) #TornadoCash (3) #TornadoCashDev (1) 1TP5토네이도캐시개발자 (1) #UKCrypto (1) #업사이드 잠재력 (1) #USCongress (1) #와이오밍랜드 (1) #XRP가격 (1) #XRP업스윙 (1)

유용한 링크

유용하다고 생각되어 공유하고 싶은 링크.