Movement Labs
Last changed 2026-11-03 · Community evidence — A moderator accepted a piece of community-submitted evidence: CoinDesk article confirms Movement Labs (MVMT Labs, Inc.) filed Chapter 11 and that the market-making deal allowed 66M MOVE to be sold one day after debut. Supports the page. Trust score now 25. Version history →
Why this score
| Every page starts at | 65 |
| The subject's own conduct | -65 |
| Concerns that are not fraud | -10 |
| Problems around it, caused by others | -6.1 |
| Long-running | +8 |
| Audited | +4 |
| Sum | -4 |
- No established finding that it defrauded anyone, so it stays out of the red band (26 or above).
Score: 25/100 (kept between 0 and 100)
How scoring works →Summary
Movement Labs, the original development company behind the Movement blockchain and MOVE token, filed for Chapter 11 bankruptcy on July 15, 2026 in the U.S. Bankruptcy Court for the District of Delaware. The filing followed a prolonged crisis triggered by a December 2024 market-making arrangement in which 66 million MOVE tokens — approximately 5% of total supply — were sold into the market one day after the token's exchange debut, creating roughly $38 million in downward price pressure. A U.S. Department of Justice grand jury investigation into the token launch is ongoing as of mid-2026, and MOVE has lost over 94% of its peak value.
Connected Entities
6 entities · 60 linked investigations- Ethereum→mentioned with→Coinbase(60%)
- Web3Port→mentioned with→Binance(70%)
- Web3Port→mentioned with→Coinbase(60%)
- Binance→mentioned with→Ethereum(65%)
- Movement Labs→mentioned with→Rushi Manche(80%)
- Rushi Manche→mentioned with→Movement Labs(80%)
- Web3Port→mentioned with→Rushi Manche(80%)
- Web3Port→mentioned with→Movement Labs(80%)
- Movement Labs→mentioned with→Ethereum(80%)
- Movement Labs→mentioned with→Web3Port(70%)
- + 6 more
Community submissions
- https://www.coindesk.com/policy/2026/07/21/movement-labs-files-for-chapter-11-months-after-token-scandal-and-strategic-overhaul(www.coindesk.com)
“[Scout] CoinDesk reports that Movement Labs filed for Chapter 11 bankruptcy, and that a market-making deal allowed 66 million MOVE tokens to be sold into the market one day after the token debuted.”
— avoid-scout(unverified)
Timeline(19 events)
2022
Movement Labs founded, focused on applying Meta's Move programming language to Ethereum infrastructure.
PYMNTS / General reporting25 November 2024
Web3Port signs agreement with Rentech, which represented itself as acting on behalf of Movement.
CoinDesk investigation27 November 2024
Rentech proposes market-making agreement to Movement Foundation; general counsel YK Pek flags it as 'possibly the worst agreement I have ever seen.'
CoinDesk investigation8 December 2024
Movement Foundation signs revised market-making agreement with Web3Port/Rentech. Domain web3portrentech.io reportedly registered on the same day as the original contract.
CoinDesk investigation10 December 2024
66 million MOVE tokens (approx. 5% of supply) are sold into the market via the Rentech/Web3Port arrangement, generating approximately $38 million in proceeds. Binance bans the market-making account for misconduct.
CoinDesk / OKX / Multiple outlets21 April 2025
Co-founder Cooper Scanlon notifies employees via Slack that Movement Labs has hired Groom Lake to conduct an independent investigation into the market-making arrangement.
CoinDesk investigation30 April 2025
CoinDesk publishes its investigation: 'Inside Movement's Token-Dump Scandal: Secret Contracts, Shadow Advisers and Hidden Middlemen.'
CoinDeskMay 2025
Coinbase announces it will delist the MOVE token, citing failure to meet listing standards.
CoinDesk / FX Street7 May 2025
Movement Labs terminates Rushi Manche and rebrands its operating arm as Move Industries. Torab Torabi appointed CEO; Will Gaines appointed President and CMO.
The Defiant / BeInCrypto9 July 2025
Rushi Manche files suit against MVMT Labs in the Delaware Court of Chancery (C.A. No. 2025-1407-CDW) seeking advancement of legal fees related to a DOJ grand jury investigation.
Justia / The DefiantJune 2026
Move Industries announces strategic pivot from Ethereum layer-2 to cross-border payments and stablecoin settlement infrastructure.
CoinDesk15 July 2026
MVMT Labs, Inc. files for Chapter 11 (Subchapter V) bankruptcy in the U.S. Bankruptcy Court for the District of Delaware, listing $100,001–$500,000 in assets and up to $10 million in liabilities with approximately 299 creditors.
CoinDesk / The Block / crypto.news14 September 2026
Court-mandated proof-of-claim deadline for creditors in the Movement Labs Chapter 11 proceedings.
crypto.newsDecision Log
- slot 465020415 · hash 2q6sQNudhuppQnNzB8ewYx3wqpFspM1PjvbYB9sRNs5j
- slot 455359381 · hash EugCPHH9wm6xP4DaG5KXzdw1pRjY1p7AgTWJJhTmjker
- slot 445506496 · hash 49kK1vunFMqKHgzyQcNRZkiDe8EyEYv6urQEPBpSvQQK
- slot 443515292 · hash 9cQyGsm7adFZB91E2qsBFa5cQxWG5e31d5RmrQPRFEze
- slot 443515288 · hash BrP6zhJ1tb93uR6oTmMrp1mNQbLtffRkGBHA27PGLopE
- slot 443507510 · hash 5iDrfZzscXa95Ce1AR13PGCxMRUQEBxX2Qd8D8UpE3JP
This investigation is cryptographically anchored to the Solana blockchain (6 decisions). 15 of 18 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 8/13/2026, 11:07:39 PM
last updated: 11/3/2026, 7:42:59 PM
6 viewsavoid.net — verified advice for a post-truth world