MOVE Token Plunges to All Time Low After Bankruptcy

MVMT Labs, the original developer behind the Movement blockchain, filed for Chapter 11 bankruptcy in Delaware on July 15, 2026. Shortly after the court filing, the MOVE token slid to a record low of $0.0104. Court records show the company listed assets between $100,000 and $1 million against liabilities of up to $10 million, marking a steep fall from its December 2024 peak of $1.45.

Despite the bankruptcy filing, Move Industries, the separate company that took over ecosystem development in 2025, stated that its operations remain unaffected. CEO Torab Torabi recently reassured the community that Move Industries operates normally and focuses on stablecoin payments for emerging markets. However, the market has reacted cautiously, leaving MOVE trading near $0.0108 with a market capitalization of $45 million.

Traders are now watching the price action closely to see if the market accepts the separation between the two entities. The bankruptcy court expects a restructuring plan by October 13, 2026, which should provide more clarity on the financial situation of the original development team.