Movement Labs Files for Chapter 11 Bankruptcy After $38M MOVE Token Scandal

MVMT Labs entered Chapter 11 with up to $10 million in liabilities and reported assets below $500,000. Former co-founder Rushi Manche holds the largest unsecured creditor claim, valued above $1.6 million. The MOVE token crisis began after 66 million tokens were sold through a disputed market-making agreement. Move Industries remains separate from MVMT Labs, keeping [...]

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