Big bombshell! Movement Labs officially files for bankruptcy protection, MOVE is almost zero

Movement Labs officially announced that it has submitted an application for U.S. bankruptcy protection, and the root cause is its own MOVE token crash.
After MOVE launched in late 2024, the market maker dumped $66 million worth of holdings in one go, causing the coin price to avalanche and tens of billions in market value to evaporate. The project team’s buybacks and investigation and accountability actions all failed to save the situation, and disputes also broke out within the founding team.
In early years, it raised more than $141 million, but today its revenue is under $800, and the gap is enormous. MOVE has plunged 99% from its peak of $1.45; its current price is only around $0.01, setting a new historical low.
The company’s assets are $100 million to $500 million, liabilities are over $1 million, and bankruptcy hearings will begin on August 20. Even if TVL is still $133 million, the funding and confidence have completely collapsed, and the attempt to pivot to the payments track is powerless.
No matter how much it raises or how beautiful the narrative is, when the token crashes and all goes to zero—would you dare to go all-in on a new public chain token?
#加密避雷 #MOVE token #Web3 project scandal
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