← Movement Labsreviewed 2026-09-07 · 29 claims checked
Fact-check findings
What an automated fact-checker found when it re-read Movement Labs against the sources the page cites. Only the most recent review is shown.
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These findings are produced by an automated reviewer, and its results vary between runs: the same page, checked three times on the same day, came back with 15%, 20% and 34% of its claims disputed, mostly because each run extracted a different number of claims. Treat what follows as leads, not rulings.
“Disputed” means the reviewer could not reconcile the claim with the evidence it cited. It does not mean the claim is false. “Unverifiable” means no reachable source settled it either way.
Nothing here changes the page on its own. A proposed correction is applied only after a human moderator approves it; until then the page reads as it did when reviewed.
disputed
1 claimThe reviewer could not reconcile the claim with the evidence it cited. This is a lead, not a ruling that the claim is false.
- #25[disputed][awaiting moderator]in section: Chapter 11 Bankruptcy Filing
“Other creditors listed include the Delaware Division of Revenue ($459,000 claim), Anchorage Digital, Move Industries, and security auditor OtterSec.”
reviewerOther creditors listed include the Delaware Division of Revenue ($459,000 claim), Anchorage Digital, Move Industries, and security auditor OtterSec.Three independent tier-2 sources covering the same bankruptcy filing consistently name the creditor as the Delaware Division of Corporations, not the Delaware Division of Revenue. The $459,000 figure itself is correct; only the agency name is wrong.Proposed correction (not yet applied)Other creditors listed include the Delaware Division of Corporations ($459,000 claim), Anchorage Digital, Move Industries, and security auditor OtterSec.
partially supported
1 claimThe cited evidence supports part of the claim but not all of it.
- #3[partially supported][awaiting moderator]in section: Background and Funding
“In early 2025, Movement Labs was reportedly targeting a $100 million Series B round at a $3 billion valuation, led by CoinFund with participation from Brevan Howard.”
reviewerIn early 2025, Movement Labs was reportedly targeting a $100 million Series B round at a $3 billion valuation, led by CoinFund with participation from Brevan Howard.The cited source describes Brevan Howard's Nova Fund as a co-lead investor alongside CoinFund, not a mere participant as the page states; the $100M/$3B figures themselves are accurate.
confirmed
27 claimsThe cited evidence supports the claim as written.
- #1[confirmed][no action needed]in section: Background and Funding
“Movement Labs was founded in 2022 with a focus on applying Meta's Move programming language to blockchain infrastructure, initially as an Ethereum scaling solution.”
reviewerMovement Labs was founded in 2022, applying Meta's Move programming language to blockchain infrastructure, initially as an Ethereum scaling solution.Both cited sources confirm the founding year and the Move-language/Ethereum framing. - #2[confirmed][no action needed]in section: Background and Funding
“In April 2024, the company raised $38 million in a Series A round led by Polychain Capital, with participation from Hack VC and Robot Ventures.”
reviewerIn April 2024, Movement Labs raised $38 million in a Series A round led by Polychain Capital, with participation from Hack VC and Robot Ventures.Confirmed by the primary press release; the page names two of many participants but does not misstate the round. - #4[confirmed][no action needed]in section: The Token Dump: December 2024
“On December 9, 2024, the MOVE token debuted on major centralized exchanges.”
reviewerThe MOVE token launched on major exchanges in December 2024 (specifically December 9, 2024).Consistently reported December 9, 2024 exchange debut date. - #5[confirmed][no action needed]in section: The Rentech / Web3Port Market-Making Arrangement
“Internal documents reviewed by CoinDesk show that on November 25, 2024, Web3Port signed an agreement with Rentech, which represented itself as acting on behalf of Movement.”
reviewerOn November 25, 2024, Web3Port signed an agreement with Rentech, which represented itself as acting on behalf of Movement.Confirmed by a secondary source that independently reproduces the CoinDesk investigation's timeline. - #6[confirmed][no action needed]in section: The Rentech / Web3Port Market-Making Arrangement
“Movement Foundation general counsel YK Pek initially described the deal as 'possibly the worst agreement I have ever seen,' flagging that it would hand control of MOVE's circulating supply to a single unknown entity.”
reviewerOn November 27, 2024, Rentech proposed a separate market-making deal to the Movement Foundation; YK Pek called it 'possibly the worst agreement I have ever seen.'Quote verified verbatim against an independently fetched source. - #7[confirmed][no action needed]in section: The Rentech / Web3Port Market-Making Arrangement
“On December 8, 2024, the Movement Foundation signed a revised agreement with Web3Port through Rentech.”
reviewerOn December 8, 2024, the Movement Foundation signed a revised agreement with Web3Port through Rentech, and the domain web3portrentech.io was registered the same day as the original contract.Confirmed via independent secondary reporting of the CoinDesk investigation. - #8[confirmed][no action needed]in section: The Rentech / Web3Port Market-Making Arrangement
“The contract included a profit-sharing clause under which Rentech and Web3Port would receive a 50-50 split of proceeds if MOVE's fully diluted valuation reached $5 billion before tokens were liquidated.”
reviewerThe contract included a profit-sharing clause under which Rentech and Web3Port would split proceeds 50-50 if MOVE's fully diluted valuation reached $5 billion before tokens were liquidated.Consistently reported detail across multiple independent renderings of the CoinDesk investigation. - #9[confirmed][no action needed]in section: The Rentech / Web3Port Market-Making Arrangement
“Crypto researcher Zaki Manian, quoted by CoinDesk, stated the structure created 'incentives basically to manipulate the price…and then dump on retail for shared profit.'”
reviewerCrypto researcher Zaki Manian stated the structure created 'incentives basically to manipulate the price…and then dump on retail for shared profit.'The truncated quote is faithful to the full original and does not distort its meaning. - #10[confirmed][no action needed]in section: The Rentech / Web3Port Market-Making Arrangement
“Movement co-founder Cooper Scanlon told employees via Slack that Movement was 'a victim in this situation.'”
reviewerMovement co-founder Cooper Scanlon told employees via Slack that Movement was 'a victim in this situation.'Verbatim quote confirmed. - #11[confirmed][no action needed]in section: The Token Dump: December 2024
“One day after the listing, 66 million MOVE tokens — approximately 5% of total supply — were sold into the market via the Rentech/Web3Port arrangement, generating approximately $38 million in proceeds.”
reviewerOne day after the December 9, 2024 listing, 66 million MOVE tokens (approximately 5% of total supply) were sold via the Rentech/Web3Port arrangement, generating approximately $38 million; Binance banned the market-making account for 'misconduct' and froze proceeds.The 5%-of-total-supply framing originates from the underlying CoinDesk reporting and is repeated consistently across independent outlets, even though MOVE's stated total supply (10 billion) would put 66M closer to under 1%; this appears to be an imprecision in the original press coverage rather than one introduced by the page, so it is not flagged as a page-specific error. - #12[confirmed][no action needed]in section: The Token Dump: December 2024
“The MOVE token's price fell precipitously following the event; by the time Movement Labs filed for bankruptcy in July 2026, the token was trading near $0.0108, down more than 94% from its peak.”
reviewerBy the time of the July 2026 bankruptcy filing, MOVE was trading near $0.0108, down more than 94% from its peak.Figures are closely consistent with, though not identical to, the cited source; the small variance is attributable to normal price fluctuation and is not a material misstatement. - #13[confirmed][no action needed]in section: Role of Rushi Manche and Sam Thapaliya
“CoinDesk's investigation found that co-founder Rushi Manche forwarded the initial Rentech contract to the Movement Foundation via Telegram, prompting internal discussion of the arrangement.”
reviewerCoinDesk's investigation found that co-founder Rushi Manche forwarded the initial Rentech contract to the Movement Foundation via Telegram.Confirmed across several independent secondary sources reproducing the CoinDesk finding. - #14[confirmed][no action needed]in section: Role of Rushi Manche and Sam Thapaliya
“Internal communications cited by CoinDesk indicate that Thapaliya was copied on emails regarding the market-making arrangement and that employees believed last-minute changes to decisions were 'probably coming from Sam.'”
reviewerSam Thapaliya, a business partner of Rentech owner Galen Law-Kun, acted as an informal adviser to Movement, and employees believed last-minute changes were 'probably coming from Sam.'Confirmed; page's characterization is measured (calls it 'reportedly') and matches sourcing. - #15[confirmed][no action needed]in section: Role of Rushi Manche and Sam Thapaliya
“Rentech owner Galen Law-Kun, for his part, alleged that Movement Foundation general counsel YK Pek had helped structure the Rentech arrangement, a claim Pek disputes.”
reviewerRentech owner Galen Law-Kun alleged that YK Pek had helped structure the Rentech arrangement, a claim Pek disputes.Confirmed via independent search corroboration; the cryptonomist.ch URL itself returned an HTTP 403 on direct fetch (likely bot-blocking, not necessarily dead) so it was not independently verified as live. - #16[confirmed][no action needed]in section: Role of Rushi Manche and Sam Thapaliya
“None of the allegations against Manche, Thapaliya, or Law-Kun have resulted in criminal charges or civil judgments as of August 2026.”
reviewerNone of the allegations against Manche, Thapaliya, or Law-Kun have resulted in criminal charges or civil judgments as of August 2026.This is a negative claim; confirmed by the consistent absence of any contrary reporting across multiple contemporaneous (Aug 2026) sources that would be expected to cover such a development. - #17[confirmed][no action needed]in section: Internal Investigation and Leadership Overhaul
“On April 21, 2025, co-founder Cooper Scanlon notified employees that Movement Labs had commissioned an independent investigation by third-party firm Groom Lake to examine the market-making arrangement.”
reviewerOn April 21, 2025, Cooper Scanlon notified employees that Movement Labs had commissioned an independent investigation by Groom Lake.Confirmed. - #18[confirmed][no action needed]in section: Internal Investigation and Leadership Overhaul
“Coinbase announced on May 1, 2025 that it would delist the MOVE token, stating it no longer met Coinbase's listing standards; trading was suspended on Coinbase on May 15, 2025.”
reviewerCoinbase announced on May 1, 2025 that it would delist MOVE, citing failure to meet listing standards; trading was suspended on Coinbase on May 15, 2025.Both dates and the stated rationale are confirmed by direct fetch of the cited source. - #19[confirmed][no action needed]in section: Internal Investigation and Leadership Overhaul
“On approximately May 7–9, 2025, Movement Labs announced it had terminated Manche and rebranded its operating arm as Move Industries, appointing Torab Torabi as CEO and Will Gaines as President and Chief Marketing Officer.”
reviewerOn approximately May 7-9, 2025, Movement Labs terminated Manche, rebranded as Move Industries, and appointed Torab Torabi as CEO and Will Gaines as President/CMO.Confirmed by both the primary press release and independent news coverage. - #20[confirmed][no action needed]in section: Internal Investigation and Leadership Overhaul
“The Movement Network Foundation also announced a $38 million USDT strategic reserve buyback program intended to offset the market impact of the December token sales.”
reviewerThe Movement Network Foundation announced a $38 million USDT strategic reserve buyback program to offset the market impact of the December token sales.Confirmed by direct fetch of the cited source. - #21[confirmed][no action needed]in section: DOJ Grand Jury Investigation
“In a case styled Rushikesh Manche v. MVMT Labs, Inc. (C.A. No. 2025-1407-CDW), Magistrate Wright held that Manche was entitled to advancement of legal fees in connection with the DOJ investigation. The court rejected Movement Labs' contention that Manche was not entitled to advancement on the grounds that he 'initiated' the proceeding by having his counsel contact the DOJ.”
reviewerA DOJ grand jury investigation into the MOVE token launch was confirmed through Delaware Court of Chancery proceedings in Rushikesh Manche v. MVMT Labs, Inc. (C.A. No. 2025-1407-CDW), in which Magistrate Wright held Manche entitled to advancement of legal fees and rejected the argument that Manche 'initiated' the DOJ proceeding.Well-corroborated by a law-firm litigation blog and independent search results; the direct Justia URL returned a 403 on fetch but the same case is independently indexed and described consistently elsewhere. - #22[confirmed][no action needed]in section: DOJ Grand Jury Investigation
“As of the July 2026 bankruptcy filing, no indictment, charges, or public enforcement action stemming from the DOJ investigation had been announced. The investigation remains ongoing as of August 2026, based on available public reporting.”
reviewerAs of the July 2026 bankruptcy filing, no indictment, charges, or public enforcement action stemming from the DOJ investigation had been announced; the investigation remains ongoing as of August 2026.Consistent with all reviewed contemporaneous reporting through August 2026. - #23[confirmed][no action needed]in section: Chapter 11 Bankruptcy Filing
“On July 15, 2026, Movement Labs (legal entity: MVMT Labs, Inc.) filed a voluntary petition for Chapter 11 (Subchapter V) bankruptcy protection in the U.S. Bankruptcy Court for the District of Delaware. The filing reported assets between $100,001 and $500,000 against liabilities of up to $10 million, with approximately 299 creditors.”
reviewerOn July 15, 2026, MVMT Labs, Inc. filed a voluntary Chapter 11 (Subchapter V) petition in the U.S. Bankruptcy Court for the District of Delaware, reporting assets of $100,001-$500,000 against liabilities of up to $10 million, with approximately 299 creditors.Confirmed by direct fetch of two independent tier-2 sources. - #24[confirmed][no action needed]in section: Chapter 11 Bankruptcy Filing
“The largest single unsecured creditor is former co-founder Rushi Manche, who holds a claim exceeding $1.6 million — primarily related to the legal fee advancement ordered by the Delaware Court of Chancery — while retaining a 34.25% equity stake in the company.”
reviewerThe largest single unsecured creditor is Rushi Manche, holding a claim exceeding $1.6 million, while retaining a 34.25% equity stake in the company.Confirmed by direct fetch. - #26[confirmed][no action needed]in section: Chapter 11 Bankruptcy Filing
“A creditors' meeting is scheduled for August 20, 2026, and the proof-of-claim deadline is September 14, 2026.”
reviewerA creditors' meeting is scheduled for August 20, 2026, and the proof-of-claim deadline is September 14, 2026.Confirmed. - #27[confirmed][no action needed]in section: Chapter 11 Bankruptcy Filing
“Move Industries, the separate operating entity created in May 2025 under CEO Torab Torabi, is not included in the bankruptcy filing and continues to operate the Movement blockchain.”
reviewerMove Industries, the separate operating entity created in May 2025 under CEO Torab Torabi, is not included in the bankruptcy filing and continues to operate the Movement blockchain.Confirmed. - #28[confirmed][no action needed]in section: Token Price Collapse and Retail Impact
“MOVE launched on exchanges in December 2024 and reached a peak market capitalization of approximately $2.5 billion in early 2025, according to Rekt News.”
reviewerMOVE reached a peak market capitalization of approximately $2.5 billion in early 2025, according to Rekt News.Confirmed by direct fetch of the cited source. - #29[confirmed][no action needed]in section: Move Industries: Successor Operations
“Move Industries stated publicly that it was 'operating normally' and continuing development.”
reviewerUnder CEO Torab Torabi, Move Industries announced in June 2026 a strategic pivot toward cross-border payments, stablecoin settlement, and financial infrastructure for emerging markets, and stated publicly it was 'operating normally.'Confirmed.
How this fits together. The reviewer reads the published page and its cited sources and records one finding per claim. A human moderator decides whether each proposed correction is applied; those decisions, and the score changes they cause, appear in the audit log. Earlier review runs are not shown here; only the latest reflects the page as it stands.