News linked to both this project and an event.
Movement Labs, the developer of the Movement blockchain, has filed for Chapter 11 bankruptcy protection. The project had previously come under scrutiny due to a market-making agreement that allowed for the rapid sale of 66 million MOVE tokens, leading to a sharp decline in MOVE's price, followed by investigations and a token buyback. Movement Labs recently pivoted to cross-border payments and stablecoin settlement services. The future arrangements for its blockchain network, partnerships, and payment expansion plans remain unclear during the Chapter 11 proceedings, although operations can continue during the restructuring period.
According to Stocktitan, U.S.-listed Bitcoin treasury company Exodus Movement has filed a lawsuit in the Delaware Court of Chancery, seeking to compel service provider W3C Corp and its CEO Garth Howat to fulfill the share acquisition agreement signed in November 2025 and complete the transaction. Exodus Movement stated that it has already classified its loan to W3C as “immediately payable” and exercised related security rights, expecting the court to issue an order compelling the counterparty to complete the closing as stipulated in the agreement. Previously, on April 8, 2026, Exodus obtained approval from the UK’s Financial Conduct Authority (FCA), removing a key regulatory hurdle for the acquisition. The company said it will accelerate completion of this acquisition by advancing both the litigation and enforcement of its security rights.