MVMT Labs, Inc., the original developer of the Movement blockchain, filed for Chapter 11 bankruptcy in Delaware on July 15, 2026. Days later, the Movement (MOVE) token slid to an all-time low of $0.0104.
Move Industries, the separate company that took over ecosystem development in 2025, says the case does not touch its operations. MOVE trades near $0.0108, down 94% over the past year.
Inside the MVMT Labs Bankruptcy Filing
Court records show a voluntary Subchapter V petition, a streamlined Chapter 11 track for small businesses. Case 26-11113 sits before Judge Thomas M. Horan in the District of Delaware.
The petition lists assets between $100,001 and $1 million against liabilities of $1 million to $10 million. Creditors number between 200 and 999.
The estate is a fraction of the project’s former scale. MOVE peaked at $1.45 in December 2024 before a disputed market making deal dumped 66 million tokens on launch day and crushed the price.
The fallout produced a market maker 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 Is Full Steam Ahead
The remaining team rebranded to Move Industries in May 2025 under CEO Torab Torabi. It pivoted toward stablecoin payments for emerging markets this June. On July 21, Torabi rejected talk of a project collapse.
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Markets have yet to reward that confidence. MOVE holds a $45 million market cap at rank 473, and its price action this week will show whether traders buy the separation.
The court expects a restructuring plan by October 13, 2026, which may reveal what remains inside the bankrupt entity.
Bitrue