Movement Labs company
Overview
Movement Labs is a blockchain infrastructure company behind the Movement Network and the MOVE token, and it is in serious distress — it filed for Chapter 11 bankruptcy, as reported on 21 July 2026, months after a token scandal and strategic overhaul. The trouble began with the MOVE token's December launch: a market maker tied to Web3Port acquired and dumped over 5% of the token's supply — nearly $38 million of MOVE — triggering a price crash. Movement Labs suspended co-founder Rushi Manche on 2 May 2025 amid investigations into the organisation's governance and the market-maker arrangement, with a third-party review conducted by Groom Lake. The suspension came hours after Coinbase announced it was delisting MOVE, and the token fell over 20% after Binance banned the implicated market maker Web3Port. Movement Labs terminated Manche outright on 7 May 2025 following CoinDesk reporting on the undisclosed token deals. In the Chapter 11 filing, Manche is among the largest creditors. Anyone evaluating Movement Labs should treat it as a company in bankruptcy proceedings rather than a going concern. MOVE launched via public airdrop in December 2024 and was immediately hit by a market maker dumping over 5% of supply. Coinbase delisted MOVE and Movement Labs suspended co-founder Rushi Manche on 2 May 2025, terminating him on 7 May 2025 after CoinDesk revealed undisclosed token deals. Binance banned the market maker Web3Port. The company filed for Chapter 11 bankruptcy, reported 21 July 2026.
Within the DeFi Intel graph, Movement Labs connects to 7 tracked entities, most strongly to Polychain Capital, Movement, Polychain Capital.
Relations
Top connections in the DeFi Intel knowledge graph (confidence-weighted, 7 of 7 total).
| Relation | Connected entity | Confidence |
|---|---|---|
invested_in | Polychain Capital | 95% |
launched | Movement | 95% |
invested_in | Polychain Capital | 95% |
issued_by | Movement Labs | 95% |
launched | Rushi Manche | 95% |
headquartered_in | United States | 85% |
invested_in | Pantera Capital | 70% |
Frequently asked questions
What is Movement Labs?
Movement Labs is an infrastructure tracked in the DeFi Intel knowledge graph. It is connected to 7 other tracked entities, most strongly to Polychain Capital, Movement, Polychain Capital.
What type of entity is Movement Labs?
Movement Labs is classified as an infrastructure (company) in the DeFi Intel knowledge graph.
What is Movement Labs connected to?
In the DeFi Intel knowledge graph, Movement Labs is linked to 7 other tracked entities, most strongly to Polychain Capital, Movement, Polychain Capital.
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