Movement Labs files for Chapter 11 bankruptcy months after token scandal and strategic overhaul

AI Summary The filing comes after months of upheaval that included a controversial market-making agreement, an internal investigation into its MOVE token launch, a Binance ban tied to its market maker and a last-ditch pivot from Ethereum scaling to cross-border payments. fulltext: 260 chars | fulltext source: rss-fallback | summary method: extractive Original: https://www.coindesk.com/policy/2026/07/21/movement-labs-files-for-chapter-11-months-after-token-scandal-and-strategic-overhaul Source: CoinDesk