MVMT Labs, Inc., the original developer behind the Movement blockchain, filed for Chapter 11 bankruptcy in Delaware on July 15, 2026. The filing sent the project's native MOVE token to an all-time low of $0.0104. The token now trades near $0.0108, down 94% over the past year.
What the bankruptcy filing shows
The petition, case number 26-11113, is a Subchapter V small business case before Judge Thomas M. Horan in the District of Delaware. MVMT Labs listed assets between $100,001 and $1 million against liabilities of $1 million to $10 million, with 200 to 999 creditors. A restructuring plan is due by October 13, 2026.
How the token got crushed
MOVE peaked at $1.45 in December 2024. Then a disputed market-making deal dumped 66 million tokens on launch day, crushing the price. That deal triggered a market misconduct probe, a Binance ban on the account involved, and exchange delistings. MVMT Labs also faces a Delaware Chancery lawsuit from suspended co-founder Rushi Manche.
Move Industries says it's separate
Move Industries, a separate entity that took over ecosystem development in 2025, stated it is not part of the bankruptcy and is operating normally. The firm rebranded from the remaining team in May 2025 under CEO Torab Torabi and pivoted to stablecoin payments for emerging markets in June 2026. Torabi rejected talk of project collapse on July 21, 2026, asserting Move Industries is operating normally.
MOVE holds a $10.4 million market cap at rank 473. The bankruptcy court will oversee the restructuring plan, with a deadline of October 13, 2026. Whether the token can recover from its 94% annual decline remains an open question, but the legal and financial mess surrounding MVMT Labs won't be sorted quickly.
