The crypto market will welcome tokens worth roughly $325.6 million in the second week of September 2026. Major projects, including Aptos (APT), Linea (LINEA), and Cheelee (CHEEL), will release new token supplies.
These unlocks could introduce market volatility and influence short-term price movements. So, here’s a breakdown of what to watch.
1. Aptos (APT)
Unlock Date: September 11
Number of Tokens to be Unlocked: 11.31 million APT
Released Supply: 1.74 billion APT
Total supply: 2.09 billion APT (Y2035)
Aptos is a Layer-1 blockchain platform designed for scalability, security, and efficiency in decentralized applications (dApps) and Web3 ecosystems. It utilizes the Move programming language to enable high-throughput transactions and smart contract execution.
Aptos will release 11.31 million tokens on September 11. The tokens are worth $7.09 million. It represents 0.65% of the released supply.
APT Crypto Token Unlock in September. Source: TokenomistThe team will award 3.96 million APT to core contributors. The community and investors will get 3.21 million and 2.81 million tokens, respectively. Additionally, Aptos will allocate 1.33 million tokens to the foundation.
2. Linea (LINEA)
Unlock Date: September 10
Number of Tokens to be Unlocked: 960.13 million LINEA
Released Supply: 31.92 billion LINEA
Total supply: 72.01 billion LINEA
Linea is a zkEVM Layer-2 scaling solution for Ethereum (ETH). The network provides fast, low-cost transactions while maintaining compatibility with Ethereum tools and security.
The network will unlock 960.13 million tokens, valued at approximately $2.75 million, on September 10. The upcoming unlock represents 3% of the released supply
LINEA Crypto Token Unlock in September. Source: TokenomistLinea will keep 480.07 million tokens for Linea Consortium (long-term alignment), and 480.07 million LINEA for Linea Consortium (Ignition).
3. Cheelee (CHEEL)
Unlock Date: September 13
Number of Tokens to be Unlocked: 6.42 million CHEEL
Released Supply: 813.4 million CHEEL
Total supply: 1 billion CHEEL
Cheelee is a SocialFi hybrid platform that rewards users with LEE tokens for watching short videos. It blends familiar social media mechanics with blockchain-based incentives. The platform utilizes its token, CHEEL, for governance, content promotion, and advertising.
The team will release 6.42 million tokens on September 13. The tokens are worth around $2.24 million and represent 0.79% of the current released supply.
CHEEL Crypto Token Unlock in September. Source: TokenomistCheelee will keep 3.4 million tokens for the reserve fund. Furthermore, it will assign 2.78 million tokens to the team. Advisors will get around 208,330 altcoins. Lastly, the team will direct 27,780 tokens to a private round.
In addition to these, other prominent unlocks that investors can look out for in the second week of September include peaq (PEAQ), Babylon (BABY), Movement (MOVE), and more.
New York, New York, September 3rd, 2026, FinanceWire
Tazapay is live on the Borderless.xyz, putting nine additional markets, local-rail payouts, and stablecoin settlement behind the single connection
Borderless, the global stablecoin orchestration and liquidity network, today announced that Tazapay is live on its network. Tazapay, headquartered in Singapore and licensed there as a Major Payment Institution by the Monetary Authority of Singapore, brings payouts and collections over domestic rails in markets including Singapore, India, Indonesia, the Philippines, Thailand, and Australia, along with Brazil, Mexico, and Colombia in Latin America.
Businesses paying into these markets have typically run a separate provider relationship per market, each with its own contract, compliance file, and settlement timing, with correspondent banking layering fees and delays underneath. Through the Borderless network, clients reach Tazapay’s coverage over the connection they already operate. Payouts arrive as local currency in the recipient’s own bank account as a domestic transfer rather than an international wire, and collections run in reverse through virtual accounts with local account details in domiciles including Singapore, Australia, the UK, and the UAE.
With Tazapay live, Borderless clients can turn on nine additional markets without a sourcing cycle, a new integration, or additional negotiations. The Borderless network connects 19+ locally licensed providers across 113+ countries through a single API.
“The demand we’re seeing from enterprises and fintechs across Asia Pacific is unmistakable. Businesses there want to move money faster and at lower cost, and our clients want to reach them,” said Alex Garn, Chief Product Officer at Borderless. “This is exactly what we built Borderless to do: extend the network’s reach across Asia Pacific and its depth in Latin America, and hand it to every client through the connection they already run, with Tazapay’s local rails behind every corridor.”
“Expanding globally shouldn’t mean navigating a fragmented payments landscape market by market,” said Rahul Shinghal, CEO of Tazapay. “Through this partnership, Borderless clients get Tazapay’s infrastructure, including local collection and payout rails, virtual accounts, and modern settlement options, through a single API. We’ve spent years building that depth across APAC, and putting it within reach of more businesses is what makes entering a new market genuinely simpler.”
Tazapay corridors are available to Borderless clients today. Businesses can contact the Borderless team to enable them on their routing.
About Borderless
Borderless is a global stablecoin orchestration and liquidity network. Its single API connects wallet infrastructure to 19+ licensed stablecoin providers across 113+ countries and 72+ fiat currencies, giving businesses the speed of an aggregator with the economics of going direct. Borderless is SOC 2 Type II certified and headquartered in New York. Users can learn more at borderless.xyz.
About Tazapay
Tazapay is a cross-border payments platform headquartered in Singapore and licensed as a Major Payment Institution by the Monetary Authority of Singapore. It provides local collections and payouts, virtual accounts, and stablecoin settlement for businesses operating internationally. Users can learn more at tazapay.com.
Switchboard, the multi-chain oracle protocol that feeds price data to decentralized applications across several blockchains, shut down operations on its Move-based deployments after discovering what it described as a potential security compromise. The affected networks include Aptos, Sui, IOTA, and Movement.
The halt, communicated during the transition from August 28 to 29, represents one of the more serious oracle-level incidents in recent memory. And the damage on at least one network was anything but theoretical.
What happened on IOTA An attacker exploited a compromised oracle key to manipulate the IOTA price feed, temporarily setting the token’s price to $10 million.
With the feed showing a wildly inflated IOTA price, the attacker was able to mint approximately 4.94 million VUSD through the Virtue CDP protocol. CDP, or collateralized debt position, protocols let users lock up assets and borrow stablecoins against them. When the oracle says your collateral is worth $10 million per token, the protocol happily lets you borrow accordingly.
The fallout hit 45 users directly through liquidations. Exchange addresses were frozen in response to the chaos, and the Virtue CDP protocol itself was halted.
Scope of the shutdown Switchboard’s decision to halt all Move-based implementations suggests the vulnerability may be architectural rather than network-specific. Move is the programming language originally developed at Meta (then Facebook) for the Diem project, and it now underpins Aptos, Sui, and their derivative ecosystems including Movement and IOTA’s newer infrastructure.
The protocol said it was actively collaborating with relevant security agencies to investigate the breach.
Notably, Switchboard’s Solana deployment was not affected. The protocol’s Solana-based infrastructure runs on different code, which apparently wasn’t vulnerable to the same exploit vector. Still, Switchboard advised even Solana users to temporarily seek alternative oracle options during the investigation.
Why oracle compromises are uniquely dangerous Oracles occupy one of the most critical positions in the DeFi stack. They’re the bridge between real-world data (token prices, interest rates, asset values) and on-chain smart contracts that execute financial transactions based on that data.
The DeFi ecosystem has seen oracle-related exploits before. Mango Markets on Solana suffered a $114 million exploit in 2022 when an attacker manipulated the platform’s oracle price.
What makes the Switchboard incident particularly concerning is that the compromise appears to have occurred at the key level rather than through market manipulation. The attacker didn’t need to execute complex trading strategies to move a price. They simply gained access to a key that controlled the feed and rewrote the data directly.
What this means for affected ecosystems For Aptos, Sui, and Movement, the shutdown is disruptive even if no exploits have been confirmed on those networks. Any DeFi protocol relying on Switchboard for price feeds is effectively flying blind until service resumes, unable to process liquidations, update collateral ratios, or execute any price-dependent function.
Protocols that integrated redundant oracle sources from providers like Pyth, Chainlink, or Redstone alongside Switchboard can continue operating. Those that didn’t are learning an expensive lesson about single points of failure.
Switchboard’s initial statements suggest that user funds have remained intact beyond the IOTA incident, but that assessment could evolve as the investigation deepens.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
TLDR: Switchboard halted Move-based oracle operations on Aptos, Sui, IOTA and Movement after a potential compromise. An IOTA oracle incident allegedly pushed a price feed to $10M, enabling about 4.94M VUSD to be minted. The IOTA incident reportedly liquidated 45 users as investigators examined the potential compromise. Switchboard said no similar issue was reported on Solana, but users were advised to migrate temporarily. Switchboard has halted oracle operations across Aptos, Sui, IOTA, and Movement after contributors identified a potential compromise involving its Move-based deployments. The coordinated shutdown affects applications using its data feeds for prices, collateral valuations, liquidations, and other automated decentralized finance functions.
🚨ALERT: Oracle network @switchboardxyz has halted operations on Aptos, Sui, IOTA and Movement after identifying a potential compromise affecting its Move based implementations.
No similar issue has been identified on @Solana, but users are being advised to temporarily migrate… pic.twitter.com/mfc68xd0ty
— SolanaFloor (@SolanaFloor) August 29, 2026
The blockchains themselves remain operational as the suspension applies only to the Oracle Network deployments running on those ecosystems. Contributors coordinated with affected teams and security organizations while investigators examine the incident and determine whether additional applications were exposed.
IOTA’s $10M Oracle Feed Incident Raises DeFi Risk The investigation follows an IOTA incident involving an allegedly compromised oracle key that reportedly pushed an asset price feed to $10 million. That manipulated valuation was then reportedly used against Virtue, an IOTA-based collateralized debt position protocol.
According to the reported incident details, the attacker minted approximately 4.94 million VUSD using collateral whose apparent value had been inflated by the corrupted feed. The event also reportedly triggered liquidations affecting 45 users.
Basically, Virtue allows users to mint VUSD after depositing assets including IOTA and stIOTA as collateral. Therefore, accurate external pricing remains essential for maintaining collateral ratios and determining when positions should be liquidated.
However, when an oracle reports an extreme price, smart contracts can treat relatively small collateral deposits as assets worth far more than their market value. That distortion can consequently affect borrowing limits, debt creation, and automated liquidations before the incorrect data is removed.
Nevertheless, Switchboard has not publicly confirmed that the reported IOTA event explains the entire potential compromise. Its initial disclosure did not identify a root cause, attacker, confirmed losses, or affected application count.
A technical postmortem has also not been published. As a result, the available information does not establish whether the issue originated from contract code, signing credentials, infrastructure, or another component.
Switchboard Halts Move Deployments as Solana Shows No Similar Issue The four suspended deployments share Move-based smart-contract infrastructure, making that common architecture central to the investigation. Move was originally developed at Facebook for the Diem blockchain project.
It later became fundamental to Aptos and Sui, while IOTA adopted the Move Virtual Machine through its Rebased upgrade. That architecture reached mainnet in May 2025 and introduced a programmable Move-based Layer 1.
Still, the shared programming environment does not establish that Move contains the vulnerability. The known issue is limited to Switchboard’s potentially compromised Move implementations across the affected networks.
Meanwhile, no similar reports have emerged involving the provider’s Solana implementation. Nevertheless, users were advised to temporarily migrate to alternative oracle solutions while the investigation continues.
The incident therefore highlights how oracle failures can spread quickly through DeFi systems as applications depend on external prices for automated decisions. Multiple providers, deviation limits, circuit breakers, and emergency pauses can limit exposure when feeds behave unexpectedly.
For developers and users, the central questions now concern the precise attack vector, the number of affected applications, and restoration timelines. Until investigators publish their findings, the halted Move deployments will remain the clearest containment measure taken across Aptos, Sui, IOTA, and Movement.
Year-long fellowship to take place at Emory University in Atlanta
, /PRNewswire/ -- The Parkinson's Foundation announced the second cohort of its Parkinson's Nurse Practitioner Fellowship program at Emory University. Applications are now open for nurse practitioners (NP) who are interested in pursuing a career in Parkinson's disease (PD) care and research. Three NPs will be selected for the 2027 fellowship cohort and will complete a year-long program at Emory Healthcare's Movement Disorders Clinic, a Parkinson's Foundation Center of Excellence.
"We are very pleased to announce that this fellowship program will continue to equip essential nurse practitioners with the PD-specific tools they require to deliver quality care to a growing Parkinson's community," said John L. Lehr, President and Chief Executive Officer of the Parkinson's Foundation. "Advancing care models such as these help reduce barriers to quality care access and as a result, improve the lives of people living with PD."
The fellows selected for the program will train alongside physician fellows, modeling an interprofessional approach to Parkinson's care. The fellowship is designed to prepare eight nurse practitioners over three years for independent practice in Parkinson's disease and movement disorders care. Building on the success of the inaugural cohort of two fellows in 2026, each accepted fellow will be offered a wide range of complimentary and accredited virtual learning opportunities prior to the program's start date, including an invitation to the Parkinson's Disease Clinical Conference, hosted by the Parkinson's Foundation.
"The success of our inaugural fellowship cohort demonstrates the growing need for advanced training opportunities in Parkinson's care," said Eli Pollard, Vice President, Chief Training and Education Officer of the Parkinson's Foundation. "We are proud that fellows from the program have remained in the Parkinson's and movement disorders field as nurse practitioner leaders."
The fellowship is open to nurse practitioners with three years or more of clinical experience and are graduates of an adult-gerontology (acute-care or primary-care) or family nurse practitioner program from an accredited school of nursing. A national board certification in a nurse practitioner specialty by January 15, 2027, and a license as an Advanced Practice Registered Nurse (APRN) in the state of Georgia by February 1, 2027, are also required. Applications are now open and close October 1, 2026. Three fellows will be selected, with offers extended by December 1, 2026. The fellowship begins May 10, 2027. Applications may be submitted here.
The Emory University host site is part of the Parkinson's Foundation Global Care Network, which consists of 67 medical centers around the world, including 54 in the U.S., that provide specialty PD care.
"We are pleased to report that our collaboration with the Parkinson's Foundation to help expand access to care for people living with Parkinson's disease is well underway with the first year of the Nurse Practitioner Fellowship program," said Jaffar Khan, MD, chair of neurology at Emory University School of Medicine. "We eagerly anticipate the arrival of our next cohort as we plan for our second iteration of this unique, highly valued and much needed training program."
Learn more about the Parkinson's Foundation Nurse Practitioner Fellowship program.
About the Parkinson's Foundation
The Parkinson's Foundation makes life better for people with Parkinson's disease by improving care and advancing research toward a cure. In everything we do, we build on the energy, experience and passion of our global Parkinson's community. Since 1957, the Parkinson's Foundation has invested more than $513 million in Parkinson's research and clinical care. Connect with us on Parkinson.org, Facebook, X, Instagram or call 1-800-4PD-INFO (1-800-473-4636).
About Parkinson's Disease
Affecting more than one million Americans, Parkinson's disease is the fastest growing neurological disorder in the world. It is associated with a progressive loss of motor control (e.g., shaking or tremor at rest and lack of facial expression), as well as non-motor symptoms (e.g., trouble sleeping, loss of smell and depression). There is no cure for Parkinson's and nearly 90,000 new cases are diagnosed each year in the U.S.
MEDIA CONTACT:
Melissa Nobles Gonzalez
Parkinson's Foundation
[email protected]
305.537.9134
The US Senate won’t make any further progress on crypto market-structure legislation until it returns from its recess in mid-September.
On Friday, Senate Majority Leader John Thune (R-South Dakota) filed for cloture on the Clarity Act, a procedural step that paves the way for potential progress on the bill next month. The Senate broke for the August recess the following day.
The landmark crypto bill would largely place the digital assets under the regulatory purview of the Commodity Futures Trading Commission (CFTC), an agency industry stakeholders believe is friendlier to the sector than the Securities and Exchange Commission (SEC).
The potential legislation has faced opposition from traditional financial giants and banking associations, who have argued the bill could put financial stability at risk and cause bank deposits to lose ground to stablecoins.
Coinbase chief executive Brian Armstrong says the lack of progress on Clarity this month was “disappointing.”
“Congress still has an important job to do. A clear federal market structure law will unlock more investment, more innovation, and more jobs in the United States while giving consumers the protections they deserve. Voters are watching closely to see who helps finish this, and who is a blocker. We’re closer than we’ve ever been. Let’s finish the job in September.”
As the banking sector’s opposition to the bill solidified, Polymarket bettors’ confidence in the Clarity Act’s chances of passing this year dwindled, with its odds falling from a high of 82% in February to 25% at time of writing.
In 2026, more than 100 crypto projects have shut down, filed for bankruptcy, or ceased operations, according to RootData. This wave has affected exchanges, wallets, DeFi, NFTs, and some blockchains. In late July, BitMEX, BitMart, Movement Labs, and Storj Labs announced their closure or bankruptcy filings within a single week. Meanwhile, Moonbeam stopped producing blocks on July 31. The sector is therefore entering a broad and highly visible phase of consolidation.
In brief More than 100 crypto projects have shut down, filed for bankruptcy, or ceased operations in 2026, according to RootData data. Closures are affecting several segments, including exchanges, DeFi, NFTs, wallets, and some blockchains. The proliferation of general-purpose Ethereum Layer 2 solutions is now accelerating market consolidation. Hacks and liquidity shortages are further weakening projects whose treasuries consist primarily of tokens. The projects that are weathering the downturn are increasingly relying on products with real usage and sustainable revenue, rather than on their token alone. The trend is affecting several categories of players, including exchanges, wallets, DeFi lending protocols, NFT marketplaces, and Layer 1 blockchains. It is therefore not limited to a specific segment of the ecosystem. The wave is now affecting different types of projects and spreading across the entire sector. According to RootData data, more than 100 crypto projects have already shut down, ceased operations, or filed for bankruptcy in 2026.
At the end of July, four companies announced their closure or bankruptcy filing during the same week. BitMEX, BitMart, Movement Labs, and Storj Labs are among the affected players. This succession of announcements provides a concrete measure of the movement. It also shows that the difficulties now go beyond young projects still in the launch phase.
Moonbeam illustrates this evolution on the scale of an entire blockchain. This Polkadot parachain permanently ceased its activities on July 31. Users who had not transferred their assets in time are left without a solution. The contracts remain present, but the chain no longer produces blocks to allow their normal use.
This situation poses a particular question to users and developers. A project can disappear as a company without its code disappearing immediately. Smart contracts sometimes continue to function after the teams dissolve. This peculiarity distinguishes decentralized infrastructures from traditional tech companies and creates new operational risks.
Ethereum Layer 2 Enters a Consolidation Phase The Ethereum layer 2 ecosystem concentrates a significant part of this restructuring. These networks experienced rapid growth in 2023 due to technical advances. They have strongly reduced costs and facilitated the launch of new chains. Their principle is to process transactions, group them, and then send them back to Ethereum.
However, the simplification of network launches has also multiplied generalist offers. The market now includes many solutions that offer similar functions. This multiplication has reduced differentiation between some projects. The question is therefore no longer just about technology, but about a network’s ability to maintain real usage.
In a statement attributed to CoinDesk, Ben Fisch, CEO of Espresso Systems, describes this period as a consolidation of generalist layer 2 solutions.
There were far too many layer 2 solutions, which, frankly, makes no sense as a product, because there is no reason to have so many versions of the same thing. We are now in a phase of consolidating these networks, not layer 2 as a whole.
Ben Fisch, CEO of Espresso Systems. According to him, the problem does not concern all layer 2s but mainly projects that replicate a similar offering. This distinction helps understand why some infrastructures continue to develop while others cease their activities.
On his side, Orkun Mahir Kılıç, co-founder and CEO of Chainway Labs, which develops Citrea, the layer 2 Bitcoin platform, told CoinDesk that this wave of closures reflects market maturity where raising capital is more difficult and investors become more selective.
Every company has its own reasons and underlying issues to close its doors. The phenomenon we are seeing is not an inherent problem of the layer 2 ecosystem. The market and technology are maturing, investments are much slower and more cautious, and only projects with solid business models and clearly defined problems will survive.
Orkun Mahir Kılıç, co-founder and CEO of Chainway Labs In other words, investors now favor projects capable of demonstrating a viable business model and clearly identifiable utility, at the expense of more speculative initiatives.
For his part, Lorenzo Valente, research director at Ark Invest, reaffirmed his analysis of crypto market consolidation by estimating that the sector is currently going through the largest consolidation phase in its history, much deeper than previous bear markets. According to him, capital has become much more selective, and teams and exchange platforms without real real estate investment trust (REIT) resources are shutting down.
The Crypto Business Model Shows Its Limits Some disappeared projects heavily depended on their own token to finance operations. These assets were used to pay engineers, support liquidity, and finance audits. As long as their dollar value remained sufficient, this mechanism could work. However, the sharp decline of altcoins has reduced the financial visibility of many projects.
Tally provides a particularly telling example. This governance tools platform for DAOs supported more than 500 protocols, including Uniswap, Arbitrum, and ENS. It had processed over a billion dollars in payments and helped secure up to 80 billion dollars in value. Despite this activity, the platform announced its closure due to lack of a sufficiently sustainable model.
Step Finance followed a different trajectory. This Solana portfolio tracking and analysis platform had obtained funding to develop its product. In January, a phishing attack on an executive’s device allowed the theft of 261,854 SOL, about 35 million dollars. After failed funding and acquisition attempts, the platform closed in February.
Everclear shows another problem related to the business model. The cross-chain settlement protocol had reached 500 million dollars in monthly volume. Yet the cross-chain solver segment never reached sufficient commercial depth. The company had signed several partnerships, but its financial resources ran out before full implementation.
These three cases present different situations but share a common point. Product usage does not automatically guarantee sufficient revenues. Significant activity can coexist with a fragile treasury and limited funding. The market thus gives more importance to a project’s ability to generate sustainable revenues.
Hacks Increase Pressure on Fragile Projects Security adds a major constraint to this consolidation period. According to a Blockaid report, on-chain exploits caused 1.1 billion dollars in losses in the first half of 2026. This amount exceeds losses recorded for the entire year of 2025. April also set a historical record for the number of attacks according to CROWDFUND INSIDER.
Two operations accounted for a large part of the losses. Kelp DAO suffered a theft of 293 million dollars on April 18. Drift Protocol lost 285 million dollars on April 1 after a social engineering operation conducted over several months. Attackers affiliated with North Korea are said to have targeted the platform without exploiting any smart contract code line.
TRM Labs estimates that actors linked to North Korea account for 66% of hack-related losses in the first half. This proportion reached 64% in 2025, compared to less than 10% at the beginning of the decade. Increasing sophistication of operations thus raises the minimum cost needed to protect protocols. Medium-sized projects sometimes have fewer resources to absorb this pressure.
The response to attacks has also changed. Previously, some communities could mobilize their treasuries to cover losses. In 2026, these token reserves have already suffered from the bear market effects. Venture capital investments have also slowed, while liquidity remains under pressure after losses related to leverage effects in October.
This combination reduces many projects’ capacity to bounce back after an incident. A hack can then become a definitive event rather than a temporary crisis. Security, treasury, and financing access thus become closely linked. For still active teams, these constraints reinforce the importance of an economic structure capable of withstanding shocks.
“Zombie” Projects Reveal Another Risk The disappearance of a team does not necessarily mean the disappearance of a protocol. Already deployed smart contracts can continue to operate without developers maintaining them. This situation creates a category of projects sometimes described as “zombies.” Their code remains active, while the structure able to monitor or fix it no longer exists.
The Lazy Summer case shows possible consequences. In July, a flaw causing 6 million dollars in losses was directly linked to Stream Finance. This protocol had already ceased operations in November 2025. Eight months later, unresolved code related to this old infrastructure contributed to creating an attack vector.
Moonbeam exacerbates this difficulty. After the blockchain shutdown on July 31, assets still locked in some DeFi protocols deployed on the chain become inaccessible. The contracts still exist, but no team can intervene to modify their functioning. Users must therefore cope with an environment that continues to exist without an active operator.
Security researchers also highlight the limits of old audits. These documents concern specific versions of code and set periods. They thus do not guarantee protocol security after modification or team disappearance. As projects accumulate, the number of active contracts without interface or maintenance may increase.
Business Models That Resist Consolidation Crypto is evolving towards a stricter selection of business models. Projects that continue their activity have used products and revenues that do not rely solely on their own token. This evolution strengthens the importance of real usage, revenues, and the ability to sustainably finance operations. It could also accelerate sector consolidation.
Despite this wave of closures, some players still maintain solid activity. Hyperliquid surpassed one billion dollars in cumulative fees as of June 30. Its trading volume increased despite the market decline, while the platform represents 70% of the decentralized perpetual contracts market. Aave held more than 12 billion dollars in deposits in July and generated more than 100 million dollars in annualized borrowing fees.
Ether.fi also presents a more diversified model. Its debit card product linked to digital assets accounts for about half of the protocol’s revenues. Its transaction fees reached 2.72 million dollars in the second quarter of 2026. The total value locked then reached 7.8 billion dollars.
These examples reveal a common criterion among projects that continue their activity. They have used products and revenue sources that do not rely solely on their own token. Consolidation thus does not mean a general disappearance of the sector. It rather translates a stronger selection between projects capable of transforming their usage into sustainable economic activity and those that fail to do so.
In the short term, the number of closures could continue to evolve with financing conditions, liquidity, and security costs. Still active projects will have to maintain their users sustainably while ensuring sufficient revenues. Abandoned infrastructures could remain present in blockchains despite the disappearance of their teams. The future will therefore depend as much on the capacity to finance operations as on the real use of products.
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Ghiles A.
Journaliste et rédacteur web passionné par l’univers des cryptomonnaies et des technologies Web3. J’y traite les dernières tendances et actualités afin de proposer un contenu de haute qualité à un large public du secteur.
Movement has announced a partnership with New Jersey-based Mexico remittance expert El Vecino and on-chain wallet provider RISE to power a digital-dollar service that lets customers hold their own money and send it home in seconds through WhatsApp.
Leveraging El Vecino’s 19 years of experience in US-to-Mexico physical remittances, RISE’s wallet capabilities and LATAM network, and Movement’s access to regulated, sub-second payment rails, the partnership enables stablecoin-settled transfers to be sent to Mexico almost instantly, giving customers a simple way to initiate transfers without opening a bank account or downloading an app.
Rather than having to visit a physical location to initiate every cash transfer, El Vecino customers can now begin the process through the familiar WhatsApp messenger. Funds settle in seconds before recipients cash out through Mexico's extensive OXXO and Circle K retail networks, or receive funds directly via the country's SPEI banking system.
The partnership aims to simplify sending money home along one of the world's most important remittance corridors. Funds settle in seconds and can be received via SPEI or withdrawn as cash through physical networks like OXXO and Circle K.
In a corridor where over $62 billion moved in 2024, speed matters—but so does trust. The initiative combines El Vecino’s long-standing relationship with the community, RISE’s product expertise, and Movement’s access to regulated payment infrastructure.
Transforming the Remittance ExperienceFor years, many remittances to Mexico have followed a similar pattern: cash handling, visits to physical locations, intermediaries, waiting periods, and settlement times spanning several days.
With this new route, the user initiates the transfer via WhatsApp, funds settle in seconds, and the recipient can receive the money via SPEI or withdraw cash at OXXO and Circle K locations.
The goal isn't to sell a tech narrative; it is to reduce friction regarding a financial need that already exists for thousands of Mexican families.
Discussing stablecoin remittances only makes sense if the infrastructure actually improves the user experience. In this case, the improvement lies in fewer steps, reduced reliance on manual processes, and much faster settlement.
The U.S.-Mexico corridor is the largest in the world and remains vital for families relying on recurring transfers. Being able to initiate a transfer using a familiar tool like WhatsApp—without opening a U.S. bank account—addresses a practical need rather than a passing product trend.
Who manages the customer relationship also matters. El Vecino has spent 19 years building trust regarding remittances to Mexico from New Jersey. That trust is central to the model.
How it WorksEach party brings something unique to this new remittance route to Mexico.
El Vecino contributes 19 years of experience in physical remittance services to Mexico and an active user base already familiar with its operations. It currently processes approximately 25,000 transactions per month—amounting to $70 million annually—across remittances, domestic and international payments, check cashing, and other services. Around 85% of these transactions are destined for Mexico.
RISE provides the wallet and regional network that enable the digital user experience.
Movement contributes regulated payment infrastructure and stablecoin settlement within seconds, as well as compliant fiat on-ramps and off-ramps—services that have historically been difficult for community-based remittance operators to secure.
Operating the new route via WhatsAppInstead of having to visit a physical location to initiate each transfer, El Vecino users will be able to start the process via WhatsApp.
Funds are then settled almost instantly. The recipient in Mexico can receive them directly via SPEI or withdraw cash through a wide, well-known commercial network.
The new service will first be piloted with El Vecino’s 20,000 users. In a second phase, it will expand through the RISE network to reach an estimated 800,000 users. Looking ahead, the model also targets other corridors in Latin America, including Guatemala and El Salvador.
Crucially, this collaboration demonstrates that a community-based operator does not need to build its own blockchain infrastructure to modernize its remittance services to Mexico. It also shows that stablecoin-based remittances can function within a regulated model, offering real local payouts and an experience designed for users who already have established habits, trusted channels, and recurring needs.
From a broader perspective, the case is significant because it combines local distribution, a digital product, and regulated settlement in one of the world's most active remittance corridors.
Voices From The AllianceTorab Torabi, CEO of Movement, said: “For too long, many Mexicans have struggled to send their hard-earned money home. The partnership with El Vecino and RISE helps correct this imbalance and demonstrates that stablecoins can function as a reliable settlement mechanism.
It also allows us to show that regulated blockchain infrastructure can modernize one of the world’s most active remittance corridors.”
Mike Burns, founder of El Vecino, said: “El Vecino was built on the trust that comes from face-to-face interaction. Families trust us because they know we help them support their loved ones. Partnering with RISE and Movement allows us to bring that trust to a remote digital channel, with the same security and certainty that the money will arrive.”
Richard Mas, founder and CEO of RISE, said: “Every year, tens of billions of dollars flow from the United States to Mexico—money largely earned far from home by people whom the banking system has left behind. El Vecino spent 19 years building trust at the counter, household by household, and we are proud to join forces with them and Movement to give those users access to new, secure, and regulatory-compliant digital solutions.”
We at Movement are confident that this pathway will not only improve the experience for El Vecino users but can also serve as a model for other remittance providers serving migrant communities who are seeking a more efficient way to move money between the United States and Mexico.
This is where stablecoin-based remittances move beyond being an abstract idea and become practical infrastructure for solving real-world problems.
Movement anunció una alianza con El Vecino y RISE para lanzar una nueva ruta de remesas a México por WhatsApp que permitirá a usuarios en Estados Unidos iniciar envíos sin abrir una cuenta bancaria en EE.UU. ni descargar una app nueva.
La nueva ruta busca hacer más simple el envío de dinero a casa en uno de los corredores de remesas más importantes del mundo. Los fondos se liquidan en segundos y pueden recibirse por SPEI o retirarse en efectivo a través de redes físicas como OXXO y Circle K.
En un corredor donde más de 62 mil millones de dólares se movieron en 2024, la velocidad importa, pero la confianza también. Combina la relación de largo plazo que El Vecino ya tiene con la comunidad, la experiencia de producto de RISE y la infraestructura regulada de pagos de Movement. Cambios en la experiencia de remesas Durante años, muchas remesas a México han seguido un flujo parecido: traslado en efectivo, visitas al punto físico, intermediarios, tiempos de espera y liquidación en varios días.
Con esta nueva ruta, el usuario inicia el envío por WhatsApp, los fondos se liquidan en segundos y el destinatario puede recibir el dinero por SPEI o retirarlo en efectivo a través de OXXO y Circle K.
El punto no es vender una narrativa tecnológica. El punto es reducir fricción en una necesidad financiera que ya existe para miles de familias mexicanas. El contexto del corredor Estados Unidos-México Hablar de remesas con stablecoins solo tiene sentido si la infraestructura mejora la experiencia real del usuario. En este caso, la mejora está en menos pasos, menos dependencia de procesos manuales y una liquidación mucho más rápida.
El corredor Estados Unidos-México es el más grande del mundo, y sigue siendo uno de los más importantes para familias que dependen de envíos recurrentes. Poder iniciar el envío desde una herramienta tan familiar como WhatsApp, sin abrir una cuenta bancaria en EE.UU., responde a una necesidad práctica, no a una moda de producto.
También importa quién opera la relación con el cliente. El Vecino lleva 19 años construyendo confianza en remesas hacia México desde Nueva Jersey. Esa confianza es parte central del modelo. Cómo participa cada socio Cada parte aporta algo distinto a esta nueva ruta de remesas a México.
El Vecino aporta 19 años de experiencia en remesas físicas hacia México y una base activa de usuarios que ya conoce su operación. Actualmente procesa aproximadamente 25,000 transacciones al mes, equivalentes a 70 millones de dólares al año, entre remesas, pagos nacionales e internacionales, cambio de cheques y otros servicios. Alrededor del 85% de esas transacciones tienen como destino México.
RISE aporta la billetera y la red regional que hacen posible la experiencia digital del usuario.
Movement aporta infraestructura regulada de pagos y liquidación con stablecoins en segundos, además de on-ramps y off-ramps fiat en cumplimiento que históricamente han sido difíciles de conseguir para operadores comunitarios de remesas. La operación de la nueva ruta por WhatsApp En lugar de tener que ir a un local para iniciar cada transferencia, los usuarios de El Vecino podrán comenzar el proceso desde WhatsApp.
Después, los fondos se liquidan casi al instante. El destinatario en México puede recibirlos directamente por SPEI o retirarlos en efectivo en una red comercial amplia y conocida.
El nuevo servicio se probará primero con los 20,000 usuarios de El Vecino. En una segunda fase, se expandirá a través de la red de RISE hasta llegar a un estimado de 800,000 usuarios. Más adelante, el modelo también apunta a otros corredores en América Latina, incluidos Guatemala y El Salvador.
Esta colaboración muestra que un operador comunitario no necesita construir su propia infraestructura blockchain para modernizar sus remesas a México. También muestra que las remesas con stablecoins pueden funcionar dentro de un modelo regulado, con salida local real y con una experiencia pensada para usuarios que ya tienen hábitos claros, canales de confianza y necesidades recurrentes.
Desde una perspectiva más amplia, el caso importa porque combina distribución local, producto digital y liquidación regulada en uno de los corredores de remesas más activos del mundo. Voces de la alianza Torab Torabi, CEO de Movement, dijo: “Durante demasiado tiempo, muchos mexicanos han tenido dificultades para enviar a casa el dinero que ganan. La alianza con El Vecino y RISE ayuda a corregir ese desequilibrio y demuestra que los stablecoins pueden funcionar como un mecanismo de liquidación confiable. También nos permite mostrar que la infraestructura blockchain regulada puede modernizar uno de los corredores de remesas más activos del mundo.”
Mike Burns, fundador de El Vecino, dijo: “El Vecino se construyó sobre la confianza que nace del trato cara a cara. Las familias confían en nosotros porque saben que las ayudamos a apoyar a sus seres queridos. La alianza con RISE y Movement nos permite llevar esa confianza a un canal digital remoto, con la misma seguridad y certeza de que el dinero va a llegar.”
Richard Mas, fundador y CEO de RISE, dijo: “Cada año, decenas de miles de millones de dólares cruzan de Estados Unidos a México, la mayor parte ganada lejos de casa por personas que el sistema bancario dejó de lado. El Vecino pasó 19 años construyendo confianza en el mostrador, hogar por hogar, y nos enorgullece sumarnos junto a Movement para dar a esos usuarios acceso a soluciones digitales nuevas, seguras y compatibles con regulación.”
Esta ruta no solo mejorará la experiencia de usuarios de El Vecino, sino que también puede servir como referencia para otros proveedores de remesas que atienden comunidades migrantes y buscan una forma más eficiente de mover dinero entre Estados Unidos y México.
Ahí es donde las remesas con stablecoins dejan de ser una idea abstracta y empiezan a convertirse en infraestructura útil para resolver problemas concretos.
, /PRNewswire/ -- Liberty Hill Foundation is proud to announce the upcoming launch of Season 5 of Conversations from the Frontlines, the foundation's PRism Award-winning podcast hosted by President and CEO Shane Murphy Goldsmith.
Liberty Hill Foundation 50th Anniversary Premiering on Wednesday, August 12, Season 5 will feature candid conversations that dive into topics such as who gets to define social progress, who has the resources and power to build the future, and what community members, donors, foundations and public institutions can do to support lasting change. For the first time, full episodes will also be available in video on Liberty Hill's YouTube channel, produced by production partner Multitude Podcasts.
"For 50 years, Liberty Hill has stood alongside frontline communities who refuse to accept injustice as inevitable," said President & CEO Shane Murphy Goldsmith. "This season will reflect on the movements, victories, and organizers that brought us to this moment, while looking ahead to the future we're building together. These conversations will showcase that transformational change happens when people come together around a shared vision of what's possible."
The new season kicks off with two thought-provoking conversations that explore the relationship between power, narrative, and social change. In the season premiere, Glen Galaich, CEO of the Stupski Foundation, will discuss how philanthropy can challenge entrenched norms by shifting from models of control to more equitable, trust-based partnerships grounded in shared power. In Episode 2, award-winning journalist and author Sonali Kolhatkar will examine progressive movement building, the narratives that shape public understanding of race and democracy, and the essential role of community power in creating a more just and inclusive future.
Across Los Angeles, everyday residents are organizing to expand opportunities, strengthen democracy, advance racial and economic justice, and build more equitable communities. Through candid conversations and stories of their leadership, resilience, and collective action, Season 5 of Conversations from the Frontlines will bring listeners closer to that work—highlighting the movement leaders, visionaries, advocates, and changemakers who are "building the good," and planting the seeds of future progress.
About Liberty Hill Foundation
Liberty Hill Foundation is a laboratory for social change philanthropy. We leverage the power of community organizers, donor activists, and allies to advance social justice through strategic investment in grants, leadership training, and campaigns. We envision a society in which all people have a powerful voice, including those currently shut out of our democracy, people cut off from opportunities because of their skin color, gender or sexual orientation, where they live, or where they were born. We will not rest until society provides justice and equality for all.
Hong Kong stocks closed sharply higher across the board, with MINIMAX surging roughly 10%.
Hong Kong stocks closed, with the Hang Seng Index rising 0.24% and the Tech Index up 0.97%. Gold and semiconductor stocks stood out. MINIMAX-W (00100.HK) rose around 10%, Luoyang Molybdenum (03993.HK) gained about 9%, and Hua Hong Hongli (01347.HK) increased roughly 5%.
2 minutes ago
Reality and The Network Firm have upgraded their partnership, with plans to deliver daily audit reports on U.S. stock tokens.
According to official announcements, Reality, Bitget’s licensed real-world asset (RWA) issuance platform, has announced a deepened partnership with U.S. audit firm The Network Firm. Under the upgraded collaboration, The Network Firm will deliver daily Proof of Reserves (PoR) audit reports for U.S. stock rTokens issued by Reality, adhering to attestation standards set by the American Institute of Certified Public Accountants (AICPA). The audits are designed to confirm that every issued rToken matches the corresponding stock or ETF asset held in the custody account. The underlying stocks and ETFs remain custodied by Alpaca Securities LLC, a U.S. broker-dealer registered with FINRA and protected by SIPC, establishing a transparent, tripartite independent framework for issuance, verification, and custody. Reality’s U.S. stock rTokens now support 634 tokenized stocks and ETFs, and are deeply integrated into the Bitget ecosystem, usable in core scenarios including unified account margin, staking, and lending. Prior data indicates that the assets under management (AUM) of Bitget’s stock rTokens surpassed $100 million within one month of launch.
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Iran: No agreement on the Strait of Hormuz can be reached if the US continues its interference.
According to announcements from Iranian authorities and the Islamic Revolutionary Guard Corps (IRGC) on August 5, a source revealed that the primary reason Iran and Oman have failed to reach an agreement on the Strait of Hormuz is US intervention and threats from US President Donald Trump. It is understood that as long as the US continues to interfere and issue military threats against Iran, the relevant agreement will not be reached.
2 minutes ago
Predict.fun has launched a prediction market for the Shanghai Composite Index’s ups and downs, with the probability of a closing gain currently standing at 50%.
Data from prediction market platform Predict.fun shows that Predict has launched a prediction market for the question: "Will the SSE Composite Index rise or fall on August 6, 2026?" As of press time, the market assigns a 50% probability to the SSE Composite Index closing higher. Notably, expectations between bullish and bearish participants are nearly balanced, indicating that there remains substantial market divergence.
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Analysis: Over 60% of the top 100 tokens by market cap have become "dead" within five years, and the mortality rate is projected to reach 84.7% in 10 years.
CryptoRank released a report analyzing 1,539 tokens that once ranked in the top 100 of the cryptocurrency market by capitalization, finding that 71.9% of them have been classified as "operationally dead". The study defines a "dead" token as one that has been delisted from major trading platforms and recorded daily trading volumes below $10,000 for over 90 consecutive days. Data indicates that roughly 62% of top 100 tokens become inactive within five years, with their mortality rate projected to hit 84.7% after a decade, while the median lifespan of such tokens is just 2 years and 4 months.
As volatility remains high across the cryptocurrency market, on-chain monitoring service Whale Alert reported a significant movement: Binance transferred 500 million USDT from its exchange wallet to Tether Treasury. Tether is the company behind the largest dollar-pegged stablecoin, USDT, which is widely used on exchanges as a proxy for US dollars and to facilitate crypto trades.
Large USDT transfer draws attentionThe sizeable transfer coincided with a key technical level in Bitcoin’s price action. At the time of the movement, Bitcoin had achieved a rebound to $64,964 on Bitstamp, sitting just below the psychologically important $65,000 mark. Such moments often trigger increased attention from traders and analysts, as they may dictate short-term sentiment in the market.
Typically, the movement of stablecoins like USDT into centralized exchanges signals buying interest. Conversely, a withdrawal or return of this size to Tether’s treasury can suggest reduced liquidity on the exchange.
Despite the initial impression of declining liquidity, market participants did not express concern, as the spot price action remained stable, and Bitcoin continued to rally toward local highs.
Technical explanation and intentAccording to analysts, the transfer is widely seen as a routine technical process rather than a reflection of changing market appetite. Rather than indicating a major sell-off or sudden liquidity loss, Binance is likely optimizing for network fees and speed.
The exchange may be returning an excess supply of USDT tokens on the slower and costlier ERC-20 Ethereum network. In return, it can receive an equivalent amount of USDT on blockchains with faster processing and lower fees, such as Tron or others. This practice enables Binance to efficiently meet the increasing demand for margin by traders while keeping transaction costs in check.
Mini dictionary: Cross-chain swap, a technical process where crypto assets are moved from one blockchain network to another to optimize speed, fees, or utility, commonly used by exchanges to manage liquidity across different blockchains.
Bitcoin holds gains as market absorbs transactionOn the price front, the most recent five-minute BTC/USD chart showed Bitcoin bouncing from a strong support level. The Point of Control (POC), reflecting the area of highest trading volume, was set at $64,102. Observers noted that the price rebounded precisely from this horizontal level, reinforcing its technical significance.
MetricLevelBitcoin price (Bitstamp)$64,964Support (POC)$64,102USDT transfer amount500 millionMomentum indicators echoed stabilization in the market. The Relative Strength Index (RSI), which had slipped into an oversold region near 20, reverted to the neutral 40–60 range, highlighting easing selling pressure and renewed buying interest. This transition suggested that bearish momentum had faded and buyers were regaining control in the short term.
Liquidity impact remains limitedDespite the size of the USDT transfer, the broader crypto market absorbed the event without significant volatility spikes. Bitcoin held firm near the upper bounds of its current trading range, and liquidity conditions showed no signs of abrupt tightening.
Both traders and analysts considered the transaction a regular operational move rather than a catalyst for market disruption. As a result, spot market conditions remained calm, with no evidence of panic or abrupt trend reversals.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Most network failures don’t send advanced warnings.
I spent nearly a decade at Qualcomm and Google building core technology for systems designed to scale across millions of consumers. Centralized infrastructure handles volume by hiding complexity. The architecture looks clean until institutional load hits it. Then you find the assumptions baked in at the foundation.
Moving to Solana Labs changed the question I was asking. Decentralized protocols cannot hide complexity behind a centralized state. Every transaction is a distributed consensus problem. After years there and then at Concordia as Head of Engineering, I watched what happens when the runtime cannot hold the state transitions that institutional volume demands. Most protocols build around that problem. They layer workarounds until the architecture carries more debt than infrastructure.
That is why I joined Movement as Head of Lending Infrastructure.
Movement’s execution environment delivers deterministic throughput at institutional scale. My job is to maintain that standard as the network grows. The network is already live, already moving money. The question is whether the architecture scales without losing what makes it trustworthy. A decade across centralized and decentralized systems taught me one thing: users stick with what works. Everything else is temporary.
PANews reported on July 29: According to Bitcoin.com News statistics, from January to July 2026, over 60 crypto companies, blockchain and DeFi protocols shut down or filed for bankruptcy, with the pace of closures accelerating notably in the last weeks of July. Security vulnerabilities, regulatory friction, and unsustainable business models are the three main reasons.
Exchanges: BitMEX announced it will cease operations on September 23, AscendEX halted trading on July 1 due to failure to obtain an EU MiCA license, BitMart started a phased shutdown, and Odos will close all services on July 30. Bankruptcies: Movement Labs filed for Chapter 11 on July 21, Poolin filed for bankruptcy protection this month, and Storj Labs also submitted a Chapter 11 filing. Layer1/L2: Powerloom, Botanix, Hyli, Sophon, Swellchain, Milkyway, Mint Blockchain, and others shut down successively. DeFi protocols: Radiant Capital, Ionic Protocol, Carrot Finance, Step Finance, Polynomial, Seamless Protocol, Everclear, Angle Protocol, and others shut down due to security vulnerabilities or unsustainable economic models. Wallets: Secondfi, Ctrl Wallet, Xenea, Leap Wallet, Magic Eden wallet, and others shut down due to security incidents or strategic adjustments. NFT and gaming platforms: Foundation, Pudgy Party, Fishing Frenzy, Gensokishi Online, and others also shut down. DAO tools: Tally, Syndicate, Parsec, Slingshot, and others shut down due to insufficient demand or intense competition.
The numbers are stark. Movement Labs raised $141.4 million from investors, yet its fully diluted valuation collapsed more than 99% from its all-time peak to $107 million. Daily on-chain fees in the last 24 hours? Just $1. Application revenue hasn’t topped $800 per day since last November. The company has now filed for bankruptcy, according to the weekly project update from WuBlockchain.
The episode sits inside a wider pattern: a growing number of projects that secured nine-figure war chests during the last bull cycle are running out of runway without ever finding a market fit. Earlier this week, DEX aggregator Odos announced it will shut down all services permanently on July 30, with users urged to withdraw funds or export private keys before then. Not every shutdown gets a bankruptcy label, but the dynamic is the same—capital alone doesn’t create demand. In contrast, the most active chains right now show a different kind of metabolism, as seen in the latest developer activity rankings this week.
Worldcoin Sells $52.5M of WLD at a 36% Discount The Worldcoin Foundation sold 217.4 million WLD tokens to institutional investors including Pantera Capital, raising approximately $52.5 million. At an effective price near $0.24 per token, the deal closed at roughly a 36% discount to the spot market at the time. The tokens came from the team wallet, are now distributed across multiple addresses, and carry a one-year lock-up period.
The Worldcoin Foundation stressed that the sold WLD does not represent equity or profit entitlements in Tools for Humanity, the main development firm behind the project. Proceeds are earmarked to expand World ID technology for enterprises, consumers, and AI agents. The network now reports over 39 million users, with more than 18 million Orb-verified. Still, a large over-the-counter sale at a deep discount suggests the foundation needed to raise cash without spooking order books, a move that often signals liquidity management rather than purely strategic allocation.
A Bridge Exploit, a 30% Price Drop, and Frozen Exchange Accounts Wanchain’s cross-chain bridge connecting to Cardano was hit by an exploit that drained roughly 515 million NIGHT tokens from the bridge vault, worth around $9 million. The vulnerability stemmed from non-injective encoding of signed messages inside the TreasuryCheck validator. By directly concatenating 14 variable-length fields to build signed payloads, the system allowed different field combinations to produce identical byte sequences, enabling a signature reuse attack.
The incident sent the NIGHT token tumbling more than 30% in 24 hours to as low as $0.0158. The Midnight Foundation said exchanges including Binance, Kraken, KuCoin, Bybit, OKX, Gate, and MEXC froze linked accounts, blacklisted attacker wallets, and suspended NIGHT deposits and withdrawals where needed. The foundation noted the core network and underlying asset remain unaffected, but the breach undercut confidence in third-party bridging solutions yet again, adding to a long list of bridge exploits that have plagued multi-chain users.
Compliance Infrastructure and Institutional Entry Points Not every development this week pointed toward failure. Uniswap Labs announced Permissioned Pools, a new hook standard built on Uniswap v4 that lets asset issuers manage whitelists at the protocol layer instead of relying on frontend or off-chain controls. The design verifies wallet permissions on every trade and liquidity addition, and leverages v4’s virtual accounting to keep permissioned assets secure. Initial partners include Superstate, Securitize, and Dowgo, tapping into the ERC-3643 standard. The move fits into a larger tokenization trend where regulated assets are moving on-chain, a theme explored in the recent tokenization market roundup.
On the exchange front, Robinhood Chain hit $700 million in total on-chain assets three weeks after launch, with stablecoins making up $430 million. Roughly $200 million sits in Morpho, which is now integrated directly into the Robinhood app, removing the need for a standalone Robinhood Wallet and generating around 7% annualized yield. That kind of native yield access inside a mainstream brokerage app is precisely the bridge between traditional fintech and DeFi that many projects promised but rarely delivered. In a separate sign of institutional engagement, LayerZero partnered with payment infrastructure firm Keeta to support cross-chain transfers of tokenized commercial bank deposits across Ethereum, Solana, Base, and Keeta Network. Keeta plans to launch stablecoins pegged to nine fiat currencies later this month.
The divergence is sharp. While some former high-fliers file for bankruptcy or sell tokens at distressed prices, others are building infrastructure that connects regulated capital to on-chain rails. The industry is not shrinking—it’s getting sorted.
AUTHOR
Brenda is a writer with three years of experience specializing in cryptocurrency, artificial intelligence and emerging technologies. She graduated from the University of Mombasa with a degree in Psychology. She has worked at Cryptopolitan and Blockchain Reporter.
The MOVE token is trading more than 99% below its all-time high of $1.45 and hit an all-time low barely two days ago.
Movement Labs has filed for Chapter 11 insolvency protection in the U.S. Bankruptcy Court of Delaware.
This follows months of controversy and a token scandal that left the network dealing with major financial issues.
Movement’s Bankruptcy Timeline In its bankruptcy filing, the company said it has under 1,000 creditors, between $100,000 and $500,000 in assets, and more than $1 million in liabilities. The largest unsecured claim, worth more than $1.6 million, belongs to former co-founder Ruhikesh Manche. Other major creditors are the Delaware Division of Revenue and Anchorage Digital.
The firm’s problems started in December 2024, after it launched its MOVE token. But shortly after its debut on Binance, some $66 million worth of the tokens were dumped onto the market as part of a market-making deal with Rentech. This sudden increase in supply led to its price tumbling and wiped out billions of dollars in value within days.
Binance later banned Rentech for misconduct, accusing it of selling the entire stash just one day after the listing while placing very few buy orders. According to the exchange, the market maker earned a profit of $38 million before it removed it from its platform on March 18.
Movement then launched a token buyback program in response to repurchase MOVE tokens and restore liquidity to the ecosystem. It also contracted Groom Lake to review its deal with Rentech, after which it was discovered that it had ties to the Chinese market maker Web3Port, ultimately leading to the dismissal of Manche over the scandal.
Per the bankruptcy filing, the first creditor hearing is scheduled for August 20.
You may also like: Crypto Lender BlockFills Enters Chapter 11 with Up to $500M in Liabilities From $141M to $8 in Daily Fees Interestingly, Movement had raised a total of $141.4 million across several funding rounds, including a Series A led by Polychain Capital. On paper, that level of funding should have provided the project with some financial stability, but the network’s on-chain activity tells a different story.
DeFiLlama data shows its daily app revenue has been less than $800 since November 2025. The project’s chain fees have also stayed in the single digits for months, with returns for the last 24 hours at just $8 per the same source.
MOVE hit a new all-time low on July 20, after a stormy few months where it went from about $0.041 in January to $0.01043 two days ago. At the time of writing, it had moved less than 2% from the all-time low, with its new level representing a plunge of over 99% from its all-time high of $1.45, according to CoinGecko data. Meanwhile, the network’s Total Value locked (TVL) sits at roughly $133 million.
Movement was originally made to link blockchains built on its Move programming language with Ethereum. But the layer-2 network announced in June that it would be pivoting toward cross-border payments, remittances, and dollar-saving products.
MVMT Labs, the original research and development company responsible for the foundational technology of the Movement Network, has filed for reorganization under Chapter 11 of the US Bankruptcy Code. The petition was submitted to the US Bankruptcy Court for the District of Delaware in early July 2026.
According to the filing details, the company lists assets in the range of $100,001 to $500,000 and liabilities of up to $10 million. It identifies as many as 299 creditors.
The largest unsecured claim belongs to co-founder Rushikesh “Rushi” Manche, totaling over $1.6 million. Manche retains a 34.25% equity stake and had previously prevailed in Delaware Chancery Court proceedings to secure advancement of legal fees linked to a US Department of Justice investigation arising from events surrounding the project’s token launch.
MVMT Labs played a central role in developing the Movement Network, an Ethereum Layer 2 blockchain that employs the Move programming language (originally designed for Meta’s abandoned stablecoin project).
The firm secured substantial funding, notably a $38 million Series A round led by Polychain Capital, before encountering major setbacks.
The December 2024 launch of the MOVE token encountered severe difficulties due to a market-making agreement that placed control of approximately 66 million tokens—about 5% of total supply—with an entity referred to as Rentech.
Quick liquidation of these tokens after debut caused a steep price collapse and prompted trading suspensions on major exchanges including Binance and Coinbase.
An internal investigation into the circumstances led to Manche’s departure from the company.
Subsequently, MVMT Labs restructured by shifting primary development duties to Move Industries, led by Torab Torabi.
This transition supported the ecosystem’s evolution into a sovereign Layer 1 blockchain focused on financial services for emerging markets.
The Movement Foundation pursued token buybacks and provided investor offramps to promote stability. Move Industries has stated it is not part of the bankruptcy process.
Chapter 11 allows MVMT Labs to operate as a debtor-in-possession while pursuing a court-supervised path to address obligations and potentially restructure for long-term sustainability.
Additional significant claims in the filing include those from the Delaware Division of Corporations (approximately $459,000), Move Industries, Anchorage Digital, and auditing firm Ottersec.
This filing illustrates the challenges facing blockchain development companies amid market volatility, regulatory attention, and execution risks. Observers will monitor the proceedings for their potential effects on the Movement ecosystem and broader adoption of Move-based technologies. The case emphasizes the importance of strong internal controls and transparency in high-stakes crypto projects.
The company behind the Move-based layer-2 network collapsed into bankruptcy after a token-dump scandal.
Posted July 22, 2026 at 6:34 am EST.
Movement Labs, the original developer behind the Movement blockchain, filed for Chapter 11 bankruptcy earlier this week, capping an extended period of controversy.
Movement Labs in its filings reported between $100,001 and $500,000 in assets and liabilities of up to $10 million. The company listed co-founder Rushikesh “Rushi” Manche, the Delaware Division of Revenue and Anchorage Digital among its largest creditors.
This story is an excerpt from the Unchained Daily newsletter.
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Movement Labs’ troubles began shortly after the December 2024 launch of the MOVE token.
A market-making agreement had given a little-known company Rentech control of 66 million MOVE tokens to be sold into the market one day after the token debuted, contributing to a significant price decline.
The fallout reshaped the Movement Labs. The company in May 2025 separated from Manche after internal investigations. It also transferred responsibility of Movement blockchain’s development to a separate company called Move Industries.
Move Industries last month said it would pivot away from competing with other Ethereum scaling networks and instead focus on cross-border payments, remittances, and stablecoin settlement, claiming access to licensed payment infrastructure in the U.S., Canada, and the European Union.
Related Listen: The Chopping Block: Is Strategy the Luna for Suits?, ETH Labs Shakeup & CME vs Perps
AI-assisted content: This article was produced with the assistance of AI tools and was reviewed, edited, and fact-checked by a member of the Unchained editorial team before publication.
Movement has joined the Mesh Alliance Program (MAP), Mesh's industry-wide interoperability initiative designed to simplify the growing complexity of crypto payments. Movement joins more than 50 partners that connect through Mesh's shared infrastructure, giving every app built on Movement a direct path to the hundreds of accounts where users already hold funds.
Accessing onchain liquidityFor Movement, Mesh closes the gap that stops most users before they start: getting money onto the network. Any app built on Movement can embed Mesh, let a user connect an account they already hold, and pull that balance onchain in a couple of taps. No withdrawal form. No wallet address to copy. No network to pick.
Movement adds one thing on top. A user holding MOVE, or any other token, on an exchange can deposit and receive a stablecoin on Movement instead. The asset the user holds and the asset the app needs do not have to match. The conversion happens inside the deposit.
Motion Wallet ships with Mesh firstMotion Wallet is Movement's self-custodial wallet. Keys stay on the user's device. It ships with the Mesh integration first. A user opens Motion Wallet, connects an exchange account through Mesh, and funds the wallet in a few taps. The same pattern is open to every partner building on Movement.
Remittance corridor realityRemittances to low and middle-income countries reached $685 billion in 2024. Those transfers settle in 278ms on Movement. But settlement speed only matters once the money is on the network, and that first step is where most products lose their users.
Most people in the markets Movement's partners serve already hold a balance on an exchange. They have the money. What they lack is a way to move it into an app without a withdrawal process that loses them halfway through. The markets Mesh is expanding into next, across Latin America, Asia, and Europe, are the same corridors Movement's partners are building for.
Movement CEO, Torab Torabi explains, "Until now, if you wanted to move money in crypto, you had to do all the heavy lifting yourself. Set up a wallet, keep balances on a couple of exchanges, bridge between networks, then paste in a 40-character address and hope the money actually showed up. Nobody liked doing that. We put up with it because there wasn't a better option. This is the pain point that Mesh alleviates. Your money moves from wherever it is to where you needs to be. The bridging happens underneath, where you as the user never have to deal with it. If we want the next billion people moving funds onchain, it has to be that simple."
Full CEX deposit support on Movement targets Q3 2026. Once network support is live across exchanges, the integration takes one to three weeks. The alliance is open to every partner building on Movement.
Move is for Money.
*This post is informational only and does not constitute an offer or solicitation of any digital asset, security, financial instrument, investment product, or stablecoin, or financial, investment, legal, or tax advice. Mesh's products and services are operated solely by Mesh, subject to Mesh's terms and applicable law. Products built on Movement Network by independent partners are operated by those partners subject to their own terms, eligibility criteria, and jurisdictional availability, and may not be available to US persons or in jurisdictions where prohibited. Product descriptions reflect publicly available information and have not been independently verified. Forward-looking statements reflect current expectations and are not guarantees.
The CLARITY Act, a significant U.S. crypto market-structure bill, may face delays due to ongoing negotiations over its ethics provisions, which aim to prevent federal officials from profiting from crypto while in office. This uncertainty has contributed to a decline in market confidence regarding the Act’s enactment in 2026. Meanwhile, Kalshi has launched a U.S. Midterms Hub, enhancing the political prediction market landscape by integrating live odds with various political data. Concurrently, Movement Labs, the entity behind the Movement blockchain, has filed for Chapter 11 bankruptcy, following a period marked by governance issues and token-market controversies.
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Key Takeaways The CLARITY Act’s passage appears uncertain as a compromise over ethics provisions remains unresolved. Kalshi’s launch of a U.S. Midterms Hub suggests an expansion in political prediction markets, offering comprehensive election data integration. Movement Labs’ Chapter 11 filing indicates ongoing financial stress within the blockchain sector, impacting market confidence. What to Watch Observers will be looking at potential developments in the CLARITY Act’s negotiations, as any progress or setbacks could influence market perceptions of its 2026 passage. The reaction of political stakeholders, such as President Trump and key congressional leaders, will be crucial in shaping the Act’s legislative journey. Additionally, the impact of Movement Labs’ bankruptcy on the broader blockchain ecosystem may reveal further vulnerabilities or resilience within the sector. Kalshi’s Midterms Hub could also serve as a barometer for public engagement and sentiment in the lead-up to the U.S. elections.
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MVMT Labs entered Chapter 11 with up to $10 million in liabilities and reported assets below $500,000. Former co-founder Rushi Manche holds the largest unsecured creditor claim, valued above $1.6 million. The MOVE token crisis began after 66 million tokens were sold through a disputed market-making agreement. Move Industries remains separate from MVMT Labs, keeping Movement blockchain development outside bankruptcy. MVMT Labs, the original developer behind the Movement blockchain, has entered Chapter 11 after a token-launch controversy weakened its finances and corporate structure. The July 15 filing places the company under Delaware bankruptcy protection while creditors, former executives, and service providers pursue claims against its remaining assets.
Movement Labs Files for Chapter 11 Bankruptcy With Liabilities Above $1 Million
Movement Labs, the developer of the Movement blockchain, has filed for Chapter 11 bankruptcy protection. Court filings show the company has between $100,000 and $500,000 in assets, more than $1… pic.twitter.com/7wJjZuYye4
— Wu Blockchain (@WuBlockchain) July 21, 2026
Court records show estimated assets between $100,001 and $500,000, compared with liabilities ranging from $1 million to $10 million. The petition lists 200 to 999 creditors, highlighting the obligations now facing a company once promoted as a major crypto infrastructure builder.
Subchapter V Filing Reveals Deep Debt and Creditor Pressure The case, filed as 26-11113, was assigned to Judge Thomas M. Horan in the U.S. Bankruptcy Court for the District of Delaware. MVMT Labs selected Subchapter V, a streamlined restructuring process for eligible small businesses seeking court-approved repayment or reorganization plans.
Under that framework, the debtor remains in control while a trustee supervises negotiations and financial disclosures. Jeffrey Schwendeman was appointed trustee, and the company requested approval for post-petition financing.
Consequently, a creditors’ meeting is scheduled for August 20, while most proofs of claim must be submitted by September 14. The company’s restructuring plan is due October 13, creating a timetable for determining whether it can reorganize or wind down.
Former co-founder Rushikesh “Rushi” Manche holds the largest listed unsecured claim, exceeding $1.6 million. He also retains a 34.25% ownership stake in MVMT Labs.
Other creditors include the Delaware Division of Corporations, Move Industries, Anchorage Digital, and blockchain security company OtterSec. Their claims reflect legal, operational, and corporate obligations.
In March, the Delaware Court of Chancery ruled that Manche was entitled to advancement of legal costs. Those expenses relate to a federal investigation involving the company and activities surrounding the MOVE Token launch.
Disputed MOVE Market-Making Deal Triggered the Collapse The dispute began after the MOVE Token launched in December 2024. A market-making agreement gave Rentech access to 66 million tokens, equal to about 5% of supply.
Binance later said the market maker sold the allocation with little corresponding buy-side activity. The sales generated roughly $38 million in USDT before Binance removed the account for misconduct.
Movement Network Foundation said it had not known about the activity. It later pledged recovered proceeds toward a $38 million MOVE Token repurchase program.
However, a CoinDesk investigation identified internal concerns regarding the agreement’s structure and Rentech’s relationship with Web3Port. Rentech, nevertheless, denied wrongdoing and rejected claims of misrepresentation.
The crypto scandal soon spread beyond the token market. Coinbase suspended MOVE trading in May 2025, while Movement commissioned an outside investigation into the arrangement.
MVMT Labs later terminated Manche, and development responsibilities shifted away from the bankrupt company. Move Industries, formed by former Movement personnel, now oversees much of the network’s work.
Chief Executive Torab Torabi said Move Industries remains legally separate and continues operating normally. Therefore, the bankruptcy does not automatically place the blockchain or its current developer under court protection.
IMPORTANT CLARIFICATIONS
1. I am the CEO of Move Industries and Move Industries is the developer team of the Movement ecosystem
2. MVMT Labs filed for bankruptcy
3. MVMT Labs has no affiliation with Move Industries, thus Move Industries is not involved in the bankruptcy
The filing now turns attention toward creditor claims, financial schedules, and the October restructuring plan. Those documents will show whether Movement Labs can preserve assets or must close.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Movement Labs, the developer of the Movement blockchain network, has filed for Chapter 11 bankruptcy protection in the US due to financial difficulties. According to court documents, the company’s assets range from $100,000 to $500,000, while its total liabilities exceed $1 million. The filing also states that the company has fewer than 1,000 creditors.
A Chapter 11 filing allows companies to undergo a restructuring process without completely ceasing operations. In this process, the company aims to continue operations and improve its financial structure by restructuring its debts. Movement Labs is expected to continue its operations while conducting restructuring negotiations with its creditors.
According to court records, the company’s largest creditors include Rushi Manche, co-founder of Movement Labs, the Delaware Division of Revenue, and Anchorage Digital, a digital asset custody service provider. The documents show that the company’s financial structure has deteriorated significantly recently, and its debt burden has exceeded its current assets.
The bankruptcy filing comes after controversies surrounding MOVE, the native token of the Movement ecosystem. The company has long been in the public eye due to allegations regarding its market-making activities for the MOVE token. An internal investigation was launched within the company, and subsequently, Binance banned the market-making account allegedly linked to the incident from its platform.
Following these developments, Movement Labs announced in May 2025 that it had parted ways with co-founder Rushi Manche. This separation was considered a significant change in project management and negatively impacted investor confidence in the MOVE token.
Companies operating in the cryptocurrency sector have been undergoing restructuring processes in recent years due to increasing regulatory pressures, market volatility, and financing difficulties.
Analysts say that Movement Labs’ Chapter 11 process is critical to the company’s future, and that the success of the restructuring plan will depend on both the creditors’ approach and the project’s capacity to revitalize its ecosystem. They also emphasize that investors should closely monitor any new announcements from the court and the company regarding the bankruptcy proceedings.
*This is not investment advice.
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Movement Labs has formally filed for Chapter 11 bankruptcy, marking a major turning point for the developer behind the Movement blockchain.
Court filings with the U.S. Bankruptcy Court for the District of Delaware show the company sought protection on the 15th of July. According to the filing, the firm had approximately $100,000-$500,000 in assets and over $1 million in liabilities at the time it entered into the bankruptcy protection process.
Source: Pacemonitor The estimated assets and liabilities highlight mounting financial strain after months of operational and governance challenges. The MOVE token market-making controversy, an internal investigation, and Binance’s ban on the related market-making account further weakened confidence.
Additionally, Movement Labs severed ties with co-founder Rushi Manche. In addition to uncertainty about future leadership, the severance raises questions about how Movement Labs intends to rebuild confidence within its community.
However, financial restructuring alone will not restore confidence. Lasting recovery depends on rebuilding trust across the broader Movement ecosystem through consistent execution.
Growth lagged despite substantial fundraising The bankruptcy filing also provides context for how Movement Labs’ funding translated into ecosystem growth. While the project raised an estimated $41.4 million, developer activity and ecosystem expansion remained relatively limited throughout its development.
Source: Cryptorank.io GitHub commits and contributor growth showed little sustained acceleration, while grants and incentives generated only modest user and dApp adoption. As development slowed, the funding primarily extended the project’s operating runway rather than strengthening network participation.
That pattern became clearer when Chapter 11 filings listed $100,000-$500,000 in assets against liabilities of up to $10 million. Together, those figures prove that fundraising alone could not offset weak ecosystem growth. As a result, this left the project increasingly dependent on capital instead of sustained network activity.
Weak network activity limited economic growth Movement Labs’ financial challenges also reflected a deeper weakness in its underlying network economy. Daily app revenue has remained below $800 since November, while chain fees fell to just $1 over the past 24 hours.
These figures indicate users interacted with the network far too infrequently to create sustainable economic activity.
Source: DeFiLlama That weak demand also weighed on market confidence, pushing MOVE’s fully diluted valuation down more than 99% to $107 million.
Rather than pointing to a temporary slowdown, the declining revenue and fee trends indicate the ecosystem struggled to support itself once funding stopped driving growth.
Taken together, Movement Labs leaves behind an ecosystem that never achieved the scale needed to sustain long-term growth. This reinforces the fact that lasting blockchain success depends on sustained network activity, not capital alone.
Final Summary Movement Labs entered Chapter 11 after limited network activity failed to establish a sustainable on-chain economy. Movement demonstrated that strong fundraising alone cannot compensate for weak ecosystem growth and sustained user adoption.
Movement Labs filed for Chapter 11 bankruptcy. Move Industries CEO Torab Torabi clarified that MVMT Labs has no affiliation with Move Industries. Movement Labs, the original developer behind the MOVE-based Ethereum Layer 2 blockchain, filed for Chapter 11 bankruptcy protection on July 15 under Subchapter V. The court filings, docketed as case number 1:26-bk-11113, and it is assigned to Judge Thomas M. Horan. The list of assets is between $100,001 and $500,000, liabilities between $1 million and $10 million, and between 200 and 999 creditors.
The largest creditors include co-founder Rushi Manche, the Delaware Division of Revenue, and Anchorage Digital. The filing allows Movement Labs to keep operating while restructuring under court supervision. Creditors have until September 14 to file claims.
Move Industries Steps In With Clarity Torab Torabi, CEO of Move Industries, clarified the situation. Move Industries is the developer team of the Movement ecosystem. MVMT Labs filed for bankruptcy, and MVMT Labs has no affiliation with Move Industries. Further stating that Move Industries is not involved in the bankruptcy process in any way.
Move Industries took over development and operations of the Movement ecosystem from Movement Labs in December 2025 and continues to operate normally. The company describes itself as a global fintech firm with access to live, licensed stablecoin rails, built to close the gap between how money moves and how it should move.
Recently, the court approved interim requests allowing Movement Labs to maintain its bank accounts, cash management systems, and secure debtor-in-possession financing to fund operations during restructuring.
What Led to This Point The trouble started immediately after the MOVE token launched in December 2024. A market-making deal handed a single counterparty 66 million MOVE tokens, roughly 5% of total supply, which were sold a day after launch. It created an estimated $38 million in downward price pressure and triggered internal investigations.
Binance banned the market maker for misconduct. Co-founder Rushi Manche was suspended in May 2025 over his role in brokering the Web3Port deal and later departed the company. The June 2025 transition toward cross-border payments proved too late to reverse the underlying trend. The bankruptcy filing was the final chapter of a slow and public unravelling.
On the other hand, the token MOVE is currently trading within the $0.01072 range. Significantly, it falls above the asset’s all-time low price of $0.01044, hit two days ago.
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MVMT Labs, Inc. (Movement Labs) has filed for Chapter 11 bankruptcy after a prolonged period of instability that saw the blockchain developer grapple with a disputed token launch, governance issues and a major change in strategy, according to court documents first uncovered by CoinDesk.
Founded by Rushi Manche and Cooper Scanlon, MVMT Labs developed an Ethereum layer 2 network powered by the Move programming language created at Meta, with ambitions to bring Move-based smart contracts to Ethereum while improving transaction speed and costs.
The startup raised a $38 million Series A led by Polychain Capital in April 2024, following a $3.4 million pre-seed round that brought its total disclosed equity financing to about $41.4 million.
According to Fortune, the company later pursued a roughly $100 million Series B in early 2025 led by CoinFund and backed by Brevan Howard’s digital assets arm, valuing the company at around $3 billion.
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However, the team became embroiled in controversy after its MOVE token launch, with an internal review scrutinizing a market-making deal that allegedly granted intermediary Rentech control over 66 million MOVE tokens, a CoinDesk investigation in April 2025 found.
The controversy resulted in Binance banning the market maker and Manche exiting the project. MOVE also experienced a sharp price decline. The token last traded at $0.01, down 99% from its all-time high.
Move Industries says it is separate from bankrupt MVMT Labs Movement underwent a management overhaul in May 2025 with the creation of Move Industries, a new company formed by former Movement Labs employees to oversee the ecosystem.
Calling the transition “a clean break” following months of controversy, the firm named Torab Torabi as chief executive and Will Gaines as president and chief marketing officer. The new leadership pledged stronger governance, more transparent engagement with the community and tighter oversight, while shifting the project’s focus toward long-term technology development and ecosystem growth.
Movement announced last month that it would shift its focus toward cross-border payments, remittances and stablecoin settlement. It said it had obtained access to licensed payments infrastructure in North America and Europe as part of that strategy.
Following news of the bankruptcy, Torabi clarified in a statement that MVMT Labs is “a separate legal entity” and that Move Industries is “operating normally.”
You may have seen the news about the Chapter 11 filing by MVMT Labs, Inc. on July 15th.
Two things worth saying clearly:
1 – MVMT Labs, Inc. is a separate legal entity, and Move Industries is not part of that filing.
2 – Move Industries is operating normally.
We continue to…
— Torab (@torabyou) July 21, 2026
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Movement Labs, the original developers behind the Move blockchain, have filed for bankruptcy in the U.S. This move comes after scandals involving the MOVE token and a restructuring that led to a major overhaul of the token’s ecosystem.
Movement Labs Files For Chapter 11 Bankruptcy Court filings show that the firm filed for Chapter 11 bankruptcy last week with assets worth up to $500,000 and liabilities exceeding $1 million. Creditors include co-founder and CEO Rushi Manche, who left the company last year.
This follows several controversies that involved the MOVE token. Last year, there were allegations that Movement Labs had promised 10% of its MOVE token supply to early insiders. This had contributed to the sharp decline that the token suffered around that period.
There was also controversy about a market-making deal involving 66 million MOVE tokens that were sold after launch. The top crypto exchange Binance banned the market maker and froze the profits, which it used to compensate users.
Movement Labs also announced at the time that it had conducted an investigation and promised to carry out token buybacks. This was also around the time of the restructuring, with Move Industries taking over operations for the MOVE blockchain. Meanwhile, the company officially terminated the co-founder Rushi Manche for signing undisclosed deals.
Move Industries CEO Provides Clarification In an X post, Move Industries CEO Torab clarified that Movement Labs is a separate legal entity from Move Industries and that the latter is not part of the filing. “Move Industries is operating normally. We continue to put our heads down and build,” he assured.
Move Industries led the pivot of the Move blockchain from an Ethereum layer-2 to an independent Layer-1 network late last year. The network now positions itself as a settlement layer for stablecoin payments in emerging markets.
The MOVE token is trading flat amid this development of Movement Labs filing for bankruptcy. The token is currently trading at around 0.0108, up less than 1%, according to TradingView data.
Source: TradingView; MOVE daily chart For more information on crypto exchanges, please check out our page on Best Crypto Exchanges and Apps for 2026
The company behind the MOVE token filed a voluntary petition in Delaware listing up to $10 million in liabilities, capping a year of governance disputes, a market-making scandal and a failed strategic pivot.
MVMT Labs, Inc., the developer behind the Movement blockchain, filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the District of Delaware on July 15, according to the court docket.
The voluntary petition, docketed as case number 26-11113 and assigned to Judge Thomas M. Horan, lists assets of between $100,001 and $1 million, liabilities of between $1 million and $10 million, and 200 to 999 creditors. The San Francisco-based company filed under Subchapter V, the streamlined small-business track of Chapter 11, and is represented by Potter Anderson & Corroon LLP.
A meeting of creditors is scheduled for Aug. 20, and the deadline for filing proofs of claim is Sept. 14, the docket shows. Chapter 11 allows a company to continue operating while it restructures its debts under court supervision.
The filing was first reported by CoinDesk, which said the company's largest creditors include co-founder Rushi Manche, the Delaware Division of Revenue and crypto custodian Anchorage Digital.
From Meta's Move Language to Delaware CourtMovement launched as an Ethereum layer 2 built with Move, the programming language originally developed at Meta for its shelved Diem project. The network aimed to bring Move-based smart contracts to Ethereum while offering faster and cheaper transactions.
Its troubles began shortly after the December 2024 launch of the MOVE token. An April 2025 CoinDesk investigation reported that Movement was examining whether it had been misled into signing a market-making agreement that gave a single counterparty outsized influence over MOVE's circulating supply. Internal documents reviewed by the outlet showed the arrangement allowed 66 million MOVE tokens to be sold into the market one day after the token debuted, contributing to a sharp price decline.
The documents centered on Rentech, an intermediary that appeared in contracts connected to Chinese market maker Web3Port. Rentech has denied any wrongdoing or misrepresentation.
Binance banned the market-making account tied to the launch for what it described as misconduct. Movement launched a token buyback program and hired investigations firm Groom Lake to review the deal.
Movement Labs and Manche separated in May 2025. Manche later sued the startup in Delaware, as The Defiant reported.
A Pivot That Preceded the FilingIn June, the project said it would pivot away from competing with other Ethereum scaling networks and instead focus on cross-border payments, remittances and stablecoin settlement. The company said it had secured access to licensed payment infrastructure in the United States, Canada and the European Union.
The shift mirrored a broader trend in the crowded layer-2 sector, where projects have increasingly moved toward real-world payments as competition among scaling networks intensified.
It is not yet clear how the Chapter 11 process will affect Movement's blockchain, its partnerships or its payments plans.
Market ReactionMOVE traded at about $0.0108 on July 21, roughly flat over the prior 24 hours and down about 8% over the past month, according to CoinGecko. The token carried a market capitalization near $45 million, ranking it around 474th by that measure.
The price sits roughly 99% below its all-time high of $1.45, reached on Dec. 10, 2024, days after launch.
The Movement chain held about $133 million in total value locked, according to DeFiLlama.
Movement Labs files for Chapter 11 bankruptcy after months of MOVE token turmoil Latest NewsPublishedJul 21, 2026
The blockchain developer will continue operating under court supervision as it restructures following a market-making scandal, a co-founder’s suspension, and exchange delistings that rocked the project.
Movement Labs, the developer behind the Movement Ethereum layer-2 blockchain, has filed for Chapter 11 bankruptcy protection in the US Bankruptcy Court for the District of Delaware, according to court records.
The petition was filed July 15 under Subchapter V, a streamlined reorganization process for qualifying small businesses. The filing allows the company to continue operating while it restructures under court supervision.
On Monday, the court approved interim requests allowing Movement Labs to maintain its bank accounts and cash management systems and obtain debtor-in-possession financing to fund operations during the bankruptcy process. Creditors have until Sept. 14 to file claims.
Following the filing, Move Industries CEO Torab Torabi wrote on X that the bankruptcy applies only to Movement Labs. Move Industries, which took over development and operations of the Movement ecosystem from Movement Labs in December 2025, continues to operate normally, according to Torabi.
Source: Torab
Market-making scandal rocked Movement before bankruptcyThe filing follows months of turmoil tied to the launch of Movement’s MOVE token and a controversial market-making agreement.
Movement Labs suspended co-founder Rushi Manche in May 2025 over a deal he helped broker with Web3Port. The market maker received 66 million MOVE, about 5% of the token’s supply, and later sold the holdings, reportedly creating roughly $38 million in downward price pressure and prompting an independent investigation.
Coinbase suspended MOVE trading later that month after determining the token no longer met its listing standards, as the review into the market-making arrangement continued.
The bankruptcy follows a prolonged decline of the MOVE token, which has fallen more than 94% over the past year to roughly $0.01.
MOVE token price over the past year. Source: CoinGecko
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
Movement Labs files for Chapter 11 bankruptcy after months of MOVE token turmoil Latest NewsPublishedJul 21, 2026
The blockchain developer will continue operating under court supervision as it restructures following a market-making scandal, a co-founder’s suspension, and exchange delistings that rocked the project.
Movement Labs, the developer behind the Movement Ethereum layer-2 blockchain, has filed for Chapter 11 bankruptcy protection in the US Bankruptcy Court for the District of Delaware, according to court records.
The petition was filed July 15 under Subchapter V, a streamlined reorganization process for qualifying small businesses. The filing allows the company to continue operating while it restructures under court supervision.
On Monday, the court approved interim requests allowing Movement Labs to maintain its bank accounts and cash management systems and obtain debtor-in-possession financing to fund operations during the bankruptcy process. Creditors have until Sept. 14 to file claims.
Following the filing, Move Industries CEO Torab Torabi wrote on X that the bankruptcy applies only to Movement Labs. Move Industries, which took over development and operations of the Movement ecosystem from Movement Labs in December 2025, continues to operate normally, according to Torabi.
Source: Torab
Market-making scandal rocked Movement before bankruptcyThe filing follows months of turmoil tied to the launch of Movement’s MOVE token and a controversial market-making agreement.
Movement Labs suspended co-founder Rushi Manche in May 2025 over a deal he helped broker with Web3Port. The market maker received 66 million MOVE, about 5% of the token’s supply, and later sold the holdings, reportedly creating roughly $38 million in downward price pressure and prompting an independent investigation.
Coinbase suspended MOVE trading later that month after determining the token no longer met its listing standards, as the review into the market-making arrangement continued.
The bankruptcy follows a prolonged decline of the MOVE token, which has fallen more than 94% over the past year to roughly $0.01.
MOVE token price over the past year. Source: CoinGecko
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
Movement Labs has filed for Chapter 11 bankruptcy with no more than $500,000 in assets and liabilities that could reach $10 million following more than a year of turmoil around the MOVE token.
Summary
Movement Labs filed for Chapter 11 with up to $10 million in liabilities. Rushi Manche holds its largest unsecured claim, worth more than $1.6 million. Move Industries says its operations and Movement blockchain development remain unaffected. Court records show that MVMT Labs submitted its petition on July 15 in the U.S. Bankruptcy Court for the District of Delaware. The original developer of the Movement blockchain listed between $100,001 and $500,000 in assets, up to $10 million in liabilities and as many as 299 creditors.
Former co-founder and chief executive Rushikesh “Rushi” Manche holds the largest unsecured claim at more than $1.6 million, according to the filing. The document also names the Delaware Division of Corporations, Move Industries, Anchorage Digital and security auditor OtterSec among the claimants, with the Delaware agency allegedly owed $459,000.
Despite being removed from the company in May 2025, Manche still owns a 34.25% equity stake in Movement Labs. He previously sued the company in the Delaware Court of Chancery and secured payment of legal expenses connected to a U.S. Department of Justice grand jury investigation into the MOVE launch.
Movement Labs originally served as the main research and development company for Movement Network, which launched as an Ethereum layer-2 using the Move programming language. Meta initially developed Move for its abandoned Libra and Diem digital currency projects.
Before the token controversy, Movement Labs had attracted substantial venture funding. The company raised $38 million in a Series A round led by Polychain Capital, while Reuters reported in January 2025 that it was close to completing another $100 million round at a proposed $3 billion valuation.
MOVE scandal left lasting damage Movement Labs’ problems intensified after MOVE debuted on exchanges in December 2024. An investigation by CoinDesk found that a market-making agreement handed 66 million MOVE tokens, or about 5% of the supply, to a little-known intermediary called Rentech.
According to internal documents reviewed by CoinDesk, wallets linked to market maker Web3Port sold the tokens one day after MOVE’s exchange debut and generated about $38 million. The sale placed a large share of the publicly traded supply under one counterparty’s control and contributed to a steep fall in the token’s price.
Scrutiny also fell on the structure of the agreement because Rentech appeared in contracts both as a Movement Foundation agent and as a Web3Port affiliate, CoinDesk reported. Rentech denied misrepresenting itself, while Movement co-founder Cooper Scanlon told employees that the project was examining whether it had been misled.
Reviewing the documents, crypto founder Zaki Manian argued that the terms created incentives to raise MOVE’s valuation before selling tokens to retail traders.
“Even participating in a discussion where that’s on paper is insane,” Manian told CoinDesk.
Binance later banned the market-making account for what the exchange described as misconduct and froze the profits linked to the token sales. Movement Network Foundation subsequently announced a $38 million MOVE repurchase plan using the recovered funds and hired outside firm Groom Lake to investigate the agreement.
Leadership changes followed the inquiry. Movement Labs terminated Manche after alleging that he had signed undisclosed agreements, while the company transferred core development responsibilities to the newly formed Move Industries under chief executive Torab Torabi.
Trading disruptions compounded the damage. The Block reported that Binance and Coinbase suspended MOVE trading after the launch controversy, while TradingView data cited in the original report placed MOVE near $0.0108 following the bankruptcy news, with the token gaining less than 1%.
Move Industries remains outside the filing Move Industries has denied any involvement in the Chapter 11 case and continues to operate the blockchain separately from Movement Labs. Addressing the filing on X, Torabi stressed that the two companies are distinct legal entities.
“Move Industries is operating normally. We continue to put our heads down and build.”
Movement Network Foundation confirmed in December 2025 that Move Industries had become the network’s primary service provider and assumed its main operating duties. Under that arrangement, the foundation remains the independent network steward, while Move Industries handles development, operations and ecosystem work.
Following the corporate separation, Move Industries converted Movement from an Ethereum layer-2 into an independent layer-1 network. The company has since positioned the chain as infrastructure for stablecoin payments, cross-border transfers and remittances in emerging markets.
Movement Labs is the second prominent crypto company to seek U.S. bankruptcy protection in recent months. In May, Nasdaq-listed Bitcoin Depot entered Chapter 11 in the Southern District of Texas to close its crypto ATM business and sell its assets under court supervision.
Unlike Movement Labs, Bitcoin Depot blamed tighter state rules, lower transaction limits, litigation and enforcement pressure for making its model unsustainable. The company took more than 9,000 kiosks offline and included its Canadian entities in the court-supervised process, according to its May 18 announcement.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Movement Labs, the developer of the Movement blockchain, has filed for Chapter 11 bankruptcy.The project came under scrutiny after a market-making deal enabled the rapid sale of 66 million MOVE tokens, triggering a steep price drop and prompting investigations and a token buyback.Movement Labs, the developer behind the Movement blockchain, has filed for Chapter 11 bankruptcy, marking the latest setback for a crypto project that has spent much of the past year navigating governance disputes, a token market-making controversy and a failed strategic reset.
The company said in a bankruptcy filing that it had under 1,000 creditors, somewhere between $100,000 and $500,000 in assets and north of $1 million in liabilities. Its largest creditors include co-founder Rushi Manche, the Delaware Division of Revenue, Anchorage Digital and other entities.
The filing follows months of turmoil for Movement, an Ethereum layer-2 network built using the Move programming language, which was originally developed at Meta. The project launched with the goal of bringing Move-based smart contracts to Ethereum (ETH) while offering faster and cheaper transactions through a scaling network.
Its troubles began shortly after the December launch of the MOVE token.
An April 2025 CoinDesk investigation found that Movement was examining whether it had been misled into signing a market-making agreement that handed a single counterparty unusual influence over MOVE's circulating supply. Internal documents reviewed by CoinDesk at the time showed the arrangement allowed 66 million MOVE tokens to be sold into the market one day after the token debuted, contributing to a sharp decline in price.
The controversy centered on Rentech, a little-known intermediary that appeared in contracts connected to Chinese market maker Web3Port. According to documents obtained by CoinDesk, Movement executives later questioned whether the foundation believed Rentech was affiliated with Web3Port when it was not. Rentech has denied any wrongdoing or misrepresentation.
The fallout extended beyond Movement. Binance banned the market-making account involved in the token launch for what it described as misconduct, while Movement launched a token buyback program and hired outside firm Groom Lake to review the events surrounding the deal.
Movement Labs and co-founder Rushi Manche separated in May 2025.
More recently, the company attempted to chart a new course.
In June, Move Industries, a separate legal entity from MVMT Labs, the company that filed for bankruptcy, announced it would pivot away from competing with other Ethereum scaling networks and instead focus on cross-border payments, remittances and stablecoin settlement. The company said it had secured access to licensed payment infrastructure in the U.S., Canada and the European Union as it sought to build services aimed at emerging markets.
The strategy reflected a wider trend across the crowded layer-2 sector, where blockchain projects have increasingly shifted toward real-world financial applications as competition among scaling networks has intensified.
CORRECTION (July 21, 2026, 18:26 UTC): Corrects that Move Industries and not Movement Labs pivoted from Ethereum scaling.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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TRON Network - Q2 2026
TRON Network - Q2 2026
In Q2; TRON's stablecoin dominance rose to 28.7%, USDT supply on TRON hit $89B ATH, $89M in protocol fees (2nd to Hyperliquid), TRX +3%, and deepening institutional & agentic reach.
11 hours ago
In Q2; TRON's stablecoin dominance rose to 28.7%, USDT supply on TRON hit $89B ATH, $89M in protocol fees (2nd to Hyperliquid), TRX +3%, and deepening institutional & agentic reach.
Why it matters:
In Q2; TRON's stablecoin dominance rose to 28.7%, USDT supply on TRON hit $89B ATH, $89M in protocol fees (2nd to Hyperliquid), TRX +3%, and deepening institutional & agentic reach.
Bankruptcy Filing Caps a Year of TurmoilMovement Labs, the company behind the Move-based Ethereum layer-2 network, has filed for Chapter 11 bankruptcy, drawing a line under one of the more turbulent episodes in recent crypto history. MVMT Labs, Inc. filed for Chapter 11 in the District of Delaware on July 15, 2026 (case #26-11113). The company disclosed under 1,000 creditors, assets of between $100,000 and $500,000, and liabilities exceeding $1 million. Its largest creditors include co-founder Rushi Manche, the Delaware Division of Revenue, and Anchorage Digital.
The problems began almost immediately after the $MOVE token launched in December 2024. A market maker sold 66 million $MOVE tokens, worth approximately $38 million and roughly 2.64% of the total circulating supply at the time, on the day of the token's Binance listing. Legal counsel for the Movement Foundation had flagged the underlying contract as deeply problematic, yet the deal was approved, and within 24 hours of the December 9 debut the tokens were sold into the open market.
Scandal, Leadership Change, and a Late PivotBinance banned the market-making account involved in the token launch for what it described as misconduct, while Movement launched a token buyback program and hired outside firm Groom Lake to review the events surrounding the deal. The lack of transparency surrounding the deal prompted both Binance and Coinbase to take action, with Binance blacklisting the market maker and Coinbase deciding to suspend trading of the $MOVE token.
Movement Labs suspended co-founder Rushi Manche on May 2, 2025, and later announced his termination. Movement also announced that it would form a new company called Move Industries. In June, Move Industries, a separate legal entity from MVMT Labs, announced it would pivot away from competing with other Ethereum scaling networks and instead focus on cross-border payments, remittances, and stablecoin settlement. The company said it had secured access to licensed payment infrastructure in the U.S., Canada, and the European Union as it sought to build services aimed at emerging markets. The pivot proved too little, too late.
Chapter 11 allows Movement Labs to keep operating while it works through a restructuring plan, but it leaves the network, its ecosystem partnerships, and the payments strategy in an uncertain position. A second-day hearing has been scheduled for August 27, 2026.
Sources:
CoinDesk: Movement Labs files for Chapter 11 months after token scandal
BankruptcyObserver: MVMT Labs Chapter 11 case #26-11113
The Block: Movement Labs terminates co-founder Rushi Manche
Ark Invest purchased 16,665 shares of Securitize on Tuesday, worth approximately $125,700.
According to market data from BIT (bit.com), Ark Invest, the firm led by Cathie Wood, purchased 16,665 shares of Securitize (ticker: SECZ), BlackRock’s real-world asset (RWA) platform, on Tuesday, for a total value of approximately $125,700. SECZ gained 13.9% that day, closing at $7.54.
8 minutes ago
Trump endorses crypto ethics bill: Prohibits federal officials from issuing cryptocurrencies, with the U.S. Department of Justice serving as the lead enforcement agency.
According to multiple sources familiar with the matter, the crypto ethics provision signed by Trump will bar federal officials—including members of Congress, the president, and vice president—from issuing digital assets, and designate the U.S. Department of Justice (DOJ) as the primary enforcement authority for the provision, rather than state attorneys general. This arrangement could become a new point of contention in advancing the CLARITY Act, as Democrats have long argued that states should retain certain enforcement powers. Maryland Democratic Senator Angela Alsobrooks, one of the lead negotiators for the bill, issued a statement earlier Tuesday: “The DOJ enforcing ethics provisions? This is not a serious proposal. If the language stays this way, I will not support the bill.” Her concerns over enforcement powers specifically target Trump’s personal meme coin and his family’s firm, World Liberty Financial. The ethics provision has been the final sticking point for the CLARITY Act after months of legislative hurdles. Patrick Witt, a senior White House advisor for crypto affairs, revealed the details of the ethics language during an industry call on Tuesday afternoon. The White House has not confirmed the exact text, but an official attributed the potential impasse to Democrats in an email: “If Senate Democrats block this historic legislation after the administration has gone to great lengths to accommodate their concerns, industry players should recognize that it is Democrats holding up the bill, as they have never taken legislative outcomes seriously.” Currently, both sides continue negotiations based on the current draft, and it remains unclear whether an agreement can be reached before the Senate adjourns.
8 minutes ago
A crypto whale closed out a $35 million long position in MU, booking a profit of $1.71 million.
According to EmberCN's monitoring, a whale went long on Micron Technology worth $35 million yesterday, and closed the position six hours ago, locking in a profit of $1.71 million. The entry price was $918, and the exit price stood at $964.
According to market data from BIT (bit.com), U.S. space stock Rocket Lab (RKLB) closed up 5.14% and gained over 7% in after-hours trading. The company has secured a $266 million contract from the U.S. Air Force to launch 12 suborbital vehicles, with an optional additional 6 launches. The missions will be conducted in Alaska and are scheduled for completion by the end of 2028. Separately, SpaceX rose more than 3%, ending its 7-day consecutive losing streak, and added another 1.3% in after-hours trading. SpaceX will release its Q2 2026 earnings report and hold a live earnings webcast on August 4, with the market currently focused on Starship’s next test flight.
8 minutes ago
Crypto whale sets 10 take-profit targets, locks in approximately $6 million in profits via position closures, and reaffirms its bullish trend outlook remains unchanged.
Contract whale "First Set 10 Big Goals" closed out its position for profit in the early hours, earning $6.019 million. The trader held an actual long position of 4,006.47 BTC, with the $258 million long position opened at $64,614.7 and closed at $66,160.47. "The uptrend remains intact; I’m locking in profits on this trade to secure gains and will take a two-day break," the trader said. Per on-chain analyst Ai Yi (@ai_9684xtpa), "First Set 10 Big Goals" has accumulated $9.96 million in profits from four long trades since June 25, with three wins and one loss, moving closer to its 10 big goals. Yesterday, the trader noted that in its previous round, it used 150 BTC to open positions targeting $150 million, hitting a maximum realized profit of $120 million. However, it misjudged the direction during a pullback from $120,000 at the last minute, wiping out all profits and ultimately preserving its principal plus a small gain. For this round, it used 300 BTC to open positions targeting $300 million, and has now realized $60 million in profits.
8 minutes ago
SK Hynix surged 8.7%, and Korea Exchange activated the suspension of program trading for the KOSPI index.
According to Bitget market data, South Korean exchanges have activated the algorithmic trading pause mechanism for the KOSPI index. The KOSPI index is currently up 5.85%, Samsung Electronics rose 5.6%, and SK Hynix gained 8.7%.
Sovereign networks do not operate on market sentiment. They operate on distribution bounds. Twenty-seven years inside the telecommunications and information technology sectors taught me this reality.
At Digicel Group, we did not evaluate consumer platforms. We built the underlying connectivity frameworks that enabled capital and data transfers to clear regional boundaries. That execution dictated my trajectory at 7 Movil, managing high-volume distribution networks where infrastructure limits define market realities. Most recently, as CEO of Cellpay, I saw what happens when the clearing protocol interfaces directly with mobile payments.
Sovereign design depends on systemic permanence. The systems that survive structural shifts are the ones that treat accessibility as a baseline utility rather than a layer on top of speculative markets.
That is the reason I joined Movement to lead the LATAM Go-To-Market team.
The transaction pipelines inside Latin American emerging markets remain broken because legacy financial players protect the friction points. Stablecoins are not assets for local trading desks. They are the actual digital infrastructure required to settle cross-border economic flows in real time.
Movement built live, licensed payment rails operating today. The imperative now is establishing institutional partnerships and expanding the sovereign distribution network before regional transaction loads demand it. Waiting for network cracks to expose systemic limits is a luxury the market cannot sustain. The primary settlement layer for global emerging markets gets one opportunity to be built correctly.
Key Takeaways Cardano is currently trading in the $0.161–$0.163 range, experiencing slight downward pressure as short positions dominate market sentiment Large holders controlling 100,000–100 million ADA tokens have amassed 25.65 billion ADA, marking the highest accumulation rate since February 2023 Network upgrade Van Rossem is slated for July 18 activation, introducing reduced transaction fees and enhanced smart contract capabilities Derivatives market shows futures open interest climbing to $421–$445 million, while the long-to-short ratio of 0.58 indicates bearish sentiment Critical liquidity zones at $0.160 and $0.170 represent pivotal levels that may determine ADA’s upcoming price trajectory Cardano (ADA) is currently hovering between $0.161 and $0.163 as of July 16–17, reflecting a modest decline of approximately 1.39% amid bearish positioning by short sellers in anticipation of an upcoming network enhancement.
Cardano (ADA) Price On July 16, ADA experienced price action ranging from a session low of $0.1611 to a peak of $0.1664, representing a retreat from early July’s high near the $0.195 mark.
However, beneath the surface of this price decline, institutional-scale investors are actively accumulating. Wallet addresses containing between 100,000 and 100 million ADA tokens have expanded their holdings to 25.65 billion ADA — a threshold not witnessed since February 2023.
Source: Santiment Retail participants present a contrasting narrative. Wallets holding fewer than 100 ADA own approximately 0.7% less compared to four months prior, revealing a divergence between institutional and retail investor behavior.
Futures market indicators suggest near-term bearish positioning. According to CoinGlass, ADA’s weighted funding rate registered at -0.0067%, indicating short holders were compensating long position traders. The long-to-short ratio measured 0.58, while open interest experienced a 4% uptick to approximately $421–$445 million.
Van Rossem Hard Fork: What’s Coming The Van Rossem hard fork, which received approval from Cardano’s governance structure on July 13, is scheduled to go live on July 18. Intersect, the member-driven organization governing the Cardano ecosystem, has advised all infrastructure operators to implement software updates prior to the transition.
UPDATE
CARDANO RATIFIES THE VAN ROSSEM HARD FORK 😱😱😱@Cardano has officially ratified the Van Rossem hard fork, with activation scheduled for July 18, 2026, at 21:45 UTC following approval from DReps, SPOs, and the Constitutional Committee.
The upgrade enhances Plutus smart… pic.twitter.com/0BFWoVY35X
— Mintern (@MinswapIntern) July 16, 2026
Van Rossem will deliver enhanced Plutus capabilities and reduced execution expenses, resulting in more cost-effective transactions and decentralized applications on the Cardano network. The upgrade also establishes the foundation for Leios, a throughput enhancement targeted for deployment before the conclusion of 2026 designed to expand transaction processing capacity.
From a technical perspective, ADA is positioned beneath the Murrey Math resistance threshold at $0.1709 on daily timeframes. The Relative Strength Index registers between 44–46.92, indicating momentum remains in neutral-to-moderately-bearish territory. The MACD indicator displays minimal positive momentum.
Key Price Levels to Watch Resistance barriers are positioned at $0.173 (23.6% Fibonacci retracement level), $0.179 (50-day EMA), and a more concentrated zone spanning $0.195 to $0.207. Support infrastructure exists near $0.150, with the June 25 bottom at $0.1382 positioned further below.
CoinGlass’s liquidation heatmap reveals a concentrated liquidity pool between $0.160 and $0.161, positioned immediately below the current trading range. An additional substantial cluster appears around $0.170. A breakdown below $0.160 may catalyze long position liquidations and drive ADA toward $0.1465. Conversely, a breakout above $0.170 could compel short sellers to exit positions and facilitate a price recovery.
Market analyst Celal Kucuker shared on X that he anticipates Cardano will achieve a new all-time high of $5, referencing a bullish divergence on the weekly RSI and characterizing the present zone as a bottom formation. He projected a parabolic rally initiating from current price levels.
Cardano will hit a new ATH at $5.
I expect the parabolic rally to begin.
We’re in the bottom zone.
There’s a bullish divergence on the weekly RSI.$ADA 🚀 pic.twitter.com/gpFvsLL7P5
— Celal Kucuker (@CelalKucuker) July 13, 2026
ADA continues trading beneath its 50-day, 100-day, and 200-day EMAs positioned at $0.179, $0.208, and $0.276 respectively, confirming the overarching downtrend persists ahead of the July 18 fork implementation.
Transfers of Bitcoin between centralized exchanges have dropped to the lowest levels seen in weeks, following Binance’s recent exit from the European Union and European Economic Area. Data from analytics platform CryptoQuant show that exchange-to-exchange flow fell sharply, from about 1,800 BTC on June 14 to just 165.7 BTC by July 12. This represents a 91% decline in only 30 days, with the timeline coinciding closely with Binance’s withdrawal from the region.
Regulatory changes affect Bitcoin network flowsBinance, one of the world’s largest cryptocurrency exchanges, ceased operations across the EU and EEA on July 1, 2026, after it was unable to meet the Markets in Crypto-Assets (MiCA) framework’s requirements. This regulatory shift triggered millions of dollars in asset migration, as European customers moved their Bitcoin holdings from Binance to new or existing accounts with regulated trading platforms.
The buildup to Binance’s exit saw a marked rise in Bitcoin flows between exchanges. Activity spiked in mid-June, with exchange-to-exchange transfers peaking at around 1,800 BTC on June 14. Once users completed their migration, transfer volumes quickly declined, dropping to 165.7 BTC by July 12. This figure marks the lowest activity since before the recent regulatory transition.
European customers significantly increased transfers between exchanges before the July 1 deadline, but after most users completed their asset shift, daily exchange flows sharply decreased, showing overall market activity has cooled.
Industry analysts suggest the sharp fall does not reflect panic selling. Instead, the drop indicates that the majority of European traders had already moved funds to regulated venues, and the extraordinary busy period had passed. The migration period temporarily inflated crypto exchange activity before returning to relatively subdued levels.
Mini dictionary: MiCA (Markets in Crypto-Assets) is a European Union regulatory framework designed to standardize rules for crypto asset service providers and trading platforms in the region, focusing on investor protection and market integrity.
Liquidity impact on Bitcoin’s price movementBitcoin has struggled to break above the $65,000 resistance level in recent weeks, despite several attempts. The reduction in exchange-to-exchange flows suggests limited liquidity, as many European retail traders spent weeks transferring funds and adjusting to new platforms instead of actively trading.
Analysts point to the disruption caused by Binance’s departure. As one of the main trading venues in Europe, Binance accounted for a significant share of spot trading activity. With so many users focused on asset transfers and opening new accounts, regular buying and selling slowed, dampening the upward pressure on Bitcoin’s price.
Recent data does not suggest long-term weakness in the Bitcoin market but rather a temporary adjustment as traders shift to compliant exchanges. Activity may recover once users settle into new platforms and resume normal trading routines.
DateBTC Exchange FlowsJune 14, 20261,800 BTCJuly 12, 2026165.7 BTCIndustry researchers believe that an increase in daily exchange flows back above 800 to 1,000 BTC could signal a return to stable liquidity. Such a recovery would indicate European capital has been redistributed across compliant exchanges, including large global platforms like Kraken and Coinbase as well as local operators.
A continued rise in daily transfer volumes would suggest market liquidity is normalizing and might allow for renewed upward moves in Bitcoin if buying activity returns.
Until then, Bitcoin may continue trading within a relatively tight range, as participants finish adjusting to regulatory changes and the restructured exchange landscape in Europe.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Jobs' quote shaped how I approached recruiting and people ops at high-growth companies and startups for the past decade.
At GroupM, building the technical, programmatic and executive functions across global advertising agencies. I learned how different the game is at an early-stage startup during my time at Beeswax, supporting Charlie, Ram, and Shamim as they built the SRE, Platform, and Data Engineering functions. I carried that learning to Dotdash, helping Colleen, Nabil, and Adam build brand teams before working on the acquisition that became what is now People Inc.
Then I owned it 0 > 1 at Aptos. I came in early, helped build the org from the ground up w/ Mo, Avery, David, and Tom, and spent years watching the network scale. The people who made it possible were not always the most credentialed in the room. They were the ones who understood why the problem mattered and stayed when it got hard.
A decade of building these teams taught me to look past credentials and pay attention to what they build. The systems that hold under pressure are staffed by people who deliberately choose the difficult version of the job.
That is why I joined Movement as Head of People. This team, after everything they've been through, chose to keep building when the world counted them out. I am joining a team of A players like Sean, Zekun, and Akeel, with more joining over the next several weeks.
Movement has live, licensed payment rails running today. The job now is finding the builders who understand why settlement speed and systemic reliability matter, and hiring them before the network demands it. Most organizations scale people reactively, waiting for cracks to appear. Movement cannot afford that. The settlement layer for global emerging markets gets one chance to be right.
The stakes are high, but there’s nowhere else I’d rather be.
A person can have money yet remain unable to use it because those dollars sit in an account controlled by someone else. The local currency is worth a little less by the weekend. Sending it across a border takes days and loses a cut at every stop. Roughly 1.4 billion adults are unbanked (World Global Finance Findex), and hundreds of millions more hold accounts exposed to inflation, currency controls, and frozen deposits. The money is real, but the system was never built for them.
Hesab built a banking framework that changes this system. It runs on a phone, works on a twenty-dollar handset, and needs no branch and no paperwork. Users hold their own keys, so the balance belongs to them and not to Hesab. They can hold dollars, send them to anyone, spend them on a ubiquitous global card network, and cash in or out through a local agent. Founded in 2018, Hesab now processes $160 million a month across more than a million transactions for users in over 160 countries. Its next expansion targets markets in the Global South, corridors across Africa and the Middle East.
What Hesab needed was a settlement layer that could move that money as fast as it promised users, without parking billions in pre-funded capital to fake the speed.
What the old rails costRemittances to low and middle-income countries reached $685 billion in 2024 (World Bank/KNOMAD). Most of that still moves through correspondent banking, which takes two to five days to clear and charges a global average of 6.36% per transfer (World Bank Remittance Prices Worldwide). The delay and the fee come from the same place. To settle a cross-border payment fast, a provider has to pre-fund an account in the destination market and let money sit there idle, waiting. Someone pays for that idle capital. The sender does, every time, in the spread and the wait.
That model has not materially changed in fifty years. It was designed for banks moving large sums between financial centers, not for a worker sending two hundred dollars home every month. The people who send the most frequent, smallest transfers pay the highest effective rate for the privilege.
Where Movement comes inMovement is the stablecoin settlement and yield layer built for these markets, with access to licensed payment rails across the United States, Canada, and the European Union. It settles in real time, sub-second, and removes the pre-funded float and the correspondent bank chain behind it. That regulated footprint is what separates it from networks that can move stablecoins but cannot touch compliant fiat on and off ramps. Hesab is the first major platform to build its bank on that infrastructure.
The stack behind the bankDFNS provides the wallet infrastructure, so Hesab can issue millions of non-custodial wallets at scale and users hold their own keys without managing seed phrases. Movement settles the stablecoin transactions across corridors. Circle's CCTP moves native USDC across blockchains. Tether supplies USDT liquidity in corridors where it is the preferred dollar. Licensed ramp partners connect users to cash-in and cash-out points across Hesab's markets.
"Money should move at the speed of trust. Instantly, without permission, across any border," said Sanzar Kakar, Chairman of Hesab.
Consider a worker abroad who opens Hesab and funds the account through one of the twenty-plus channels Hesab supports, whether it’s by bank transfer, card, or Apple Pay. That balance is held as dollar-denominated stablecoins, USDC or USDT, in a wallet only the user controls. They tap send. The transaction settles on Movement in less than a second, not days, with no float parked in the middle to make it feel fast. The recipient chooses what the money becomes. They can hold it in dollars, spend it directly on a global issued card, or convert to local currency and collect cash through an agent. The recipient gets the money in their own account, on their own phone, the same day.
Why self-custody matters hereMost banking for the underbanked keeps custody with the provider. The user gets an app, but the balance stays on the company's books. Hesab inverts that. It’s a self-custodial wallet at its core: the keys live on the user’s device. Leave Hesab tomorrow, and the money is still yours. That design answers the exact problem those users have lived with their whole lives: accounts that freeze, currencies that get controlled, institutions that cannot be trusted with the balance. A bank you fully own removes the middleman from the one relationship that matters most.
One settlement layer, every corridorHesab's bank goes live for users across the Global South, starting in Africa and the Middle East. Every stablecoin transaction in it settles on Movement. As Hesab opens new corridors, the layer underneath does not change. That is the point of building on infrastructure instead of stitching rails together market by market. Hesab handles the customer. Movement moves the money.
Move is for Money.This post is informational only and does not constitute an offer or solicitation of any digital asset, security, financial instrument, investment product, or stablecoin, or financial, investment, legal, or tax advice. Hesab's products and services are operated solely by Hesab, subject to Hesab's terms and applicable law. Products built on Movement Network by independent partners are operated by those partners subject to their own terms, eligibility criteria, and jurisdictional availability, and may not be available to US persons or in jurisdictions where prohibited. Product and performance descriptions reflect publicly available information and have not been independently verified. Forward-looking statements reflect current expectations and are not guarantees.
Key HighlightsTechnology Sector and Artificial Intelligence Momentum ReturnCentral Bank Policy Minutes and Monetary Tightening SpeculationCrude Markets Decline Following OPEC+ Production AgreementGet 3 Free Stock Ebooks Nasdaq 100 contracts climbed 1.1%, S&P 500 contracts gained 0.5%, Dow contracts edged lower Technology sector spearheads morning gains following recovery from late-June semiconductor selloff Foxconn posted quarterly revenue above analyst projections, reinforcing persistent artificial intelligence demand OPEC+ members reached agreement to increase production by 188,000 barrels daily starting August, weighing on crude Federal Reserve meeting minutes from Chair Kevin Warsh’s inaugural session scheduled for Wednesday release Equity index futures traded in positive territory during Monday’s pre-market session, propelled primarily by strength in technology names. Nasdaq 100 contracts advanced 1.1%, accompanied by a 0.5% rise in S&P 500 contracts. Dow Jones Industrial Average futures declined modestly, shedding approximately 28 points.
E-Mini S&P 500 Sep 26 (ES=F) The Dow reached a fresh record at Thursday’s closing bell — marking the 20th time in 2026 the blue-chip index has finished at an all-time peak. The three primary benchmarks all registered weekly advances despite abbreviated trading around the holiday.
Technology Sector and Artificial Intelligence Momentum Return Semiconductor equities have recaptured investor attention following recent weakness. The Invesco PHLX Semiconductor ETF has surrendered 11.4% of its value through July, though Monday’s pre-market activity hints at a potential turnaround.
Foxconn, which serves as a major supplier to Nvidia, disclosed Sunday that quarterly revenue exceeded Wall Street forecasts. Market participants interpreted the results as confirmation that artificial intelligence hardware requirements continue expanding.
Samsung Electronics will unveil quarterly results on Tuesday. Market watchers anticipate the South Korean memory chip giant will reveal profits approximately 18 times larger than year-ago levels.
SK Hynix, ranking as the planet’s second-biggest memory chip producer and based in South Korea, intends to secure over $29 billion through an American depositary receipt offering on Nasdaq within days.
JPMorgan strategists elevated their year-end S&P 500 forecast, pointing to the artificial intelligence supercycle as a primary catalyst. The firm cautioned, though, that upward momentum will likely include volatility along the way.
Central Bank Policy Minutes and Monetary Tightening Speculation Market participants are focused on Wednesday’s publication of Federal Reserve June meeting records. The session represented Kevin Warsh’s debut as chairman following his replacement of Jerome Powell in late May.
Warsh has reinforced the central bank’s commitment to its 2% inflation objective. Financial markets have interpreted this stance as signaling a more restrictive policy bias.
ING analyst Chris Turner indicated that “the core message should be a hawkish one,” suggesting certain Federal Reserve officials might consider another rate increase as the next policy adjustment.
The benchmark 10-year Treasury yield registered 4.461% in early Monday trading, slipping marginally from the prior week’s levels.
Disappointing June employment data has also altered rate trajectory expectations. Monday’s release of US services sector indicators may provide additional economic insights.
Crude Markets Decline Following OPEC+ Production Agreement Oil prices softened after OPEC+ members agreed to lift output by approximately 188,000 barrels daily beginning in August. The Saudi kingdom is participating in the production enhancement.
West Texas Intermediate contracts changed hands below $69 per barrel during early Monday activity.
The Strait of Hormuz, representing a critical petroleum transit chokepoint, has resumed normal operations. This development has diminished some inflation anxieties connected to energy supply interruptions.
Declining crude prices alleviate pressure on Federal Reserve policymakers and eliminate one potential inflation contributor.
The crypto market will welcome tokens worth more than $776.3 million in the second week of July 2026. Major projects, including Pump.fun (PUMP), Aptos (APT), and RedStone (RED) will release significant new token supplies.
These unlocks could introduce market volatility and influence short-term price movements. So, here’s a breakdown of what to watch.
1. Pump.fun (PUMP) Unlock Date: July 12 Number of Tokens to be Unlocked: 82.5 billion PUMP Released Supply: 430 billion PUMP Total Supply: 1 trillion PUMP Pump.fun is a Solana-based platform that lets anyone create and trade meme coins instantly for a fee. It uses a fair-launch model with bonding curves that price tokens by demand, removing pre-mines and early allocations.
The protocol will unlock 82.5 billion PUMP tokens into the market on July 12. Moreover, the supply is worth approximately $134.65 million. It represents 29.23% of the released supply.
PUMP Crypto Token Unlock in July. Source: TokenomistThe team will receive 50 billion tokens. Meanwhile, existing investors will get 32.5 billion PUMP.
2. Aptos (APT) Unlock Date: July 12 Number of Tokens to be Unlocked: 11.31 million APT Released Supply: 1.71 billion APT Total supply: 2.56 billion APT (Y2035) Aptos is a Layer-1 blockchain platform designed for scalability, security, and efficiency in decentralized applications (dApps) and Web3 ecosystems. It utilizes the Move programming language to enable high-throughput transactions and smart contract execution.
Aptos will release 11.31 million tokens on July 12. The tokens are worth $7.15 million. It represents 0.66% of the released supply.
APT Crypto Token Unlock in July. Source: TokenomistThe team will award 3.96 million APT to core contributors. The community and investors will get 3.21 million and 2.81 million tokens, respectively. Additionally, Aptos will allocate 1.33 million altcoins to the foundation.
3. RedStone (RED) Unlock Date: July 6 Number of Tokens to be Unlocked: 40.85 million RED Released Supply: 416.6 million RED Total Supply: 1 billion RED RedStone is a modular blockchain oracle protocol that feeds trusted, real-time external data into smart contracts and decentralized finance (DeFi) applications across multiple blockchains.
The team will release 40.85 million tokens on July 6. The tokens are worth $4.16 million. Furthermore, they account for 9.8% of the released supply.
RED Crypto Token Unlock in July. Source: TokenomistThe team will split the unlocked supply four ways. Early backers will get 26.42 million tokens. Core contributors will receive 5.56 million RED.
Furthermore, the team will allocate 5.54 million altcoins to the ecosystem and data providers. Lastly, it will direct 3.33 million tokens towards protocol development.
In addition to these three, Linea (LINEA), Babylon (BABY), and Movement (MOVE) will also see new supply enter the market in the second week of July.
BNY Mellon: Urgency for further Federal Reserve tightening has diminished.
Jeff, Senior Macro Strategist at the Bank of New York Mellon, pointed out that weak U.S. labor data and improved inflation metrics have reduced the urgency for the Federal Reserve to implement further monetary tightening. However, this does not resolve lingering questions about whether the growth slowdown is within a controllable range or whether policy expectations have been overly adjusted. He remarked, “The global narrative is growing less unified.” In the U.S., the key question is whether the Federal Reserve can maintain patience without inflation risks reemerging; in Europe, meanwhile, the focus of discussions has shifted from urgent inflation management to issues including economic growth, fiscal credibility, and defense financing.
6 minutes ago
Recently, only two whales on Hyperliquid have completed position building for MU, with the average entry price for long positions standing at $1,019.
According to Hyperinsight’s monitoring, following the U.S. stock market’s closure for Independence Day last Friday, U.S. stock trading volumes slowed sharply over the weekend, with MU’s 24-hour volume reaching just $99 million. Only one whale built and held a MU (Micron Technology) position on Hyperliquid over the weekend. This whale’s address (0x93c) was created three days ago and currently only engages in long MU trades on Hyperliquid. Approximately three hours ago, the address opened another long position of 1,319.5 MU with 7x leverage, worth roughly $1.33 million, at an average entry price of $1,002 and a liquidation price of $904. Separately, only one whale also opened a MU position during last Friday’s market closure and has held it since. This whale currently holds a long position valued at approximately $8.31 million, with an average entry price of $1,036, and is currently in a slight unrealized loss.
6 minutes ago
DeFi protocol Summer Finance hacked, $6 million in losses
According to Blockaid's monitoring, DeFi protocol Summer Finance is under ongoing attack, with approximately $6 million in assets stolen so far.
6 minutes ago
JPMorgan Chase maintains an "Overweight" rating on Tencent, with a target price of HK$690.
JPMorgan said in a report that uncertainties surrounding Tencent’s WeChat AI Agent include whether it can fully integrate into the WeChat platform, the extent of its transaction permissions, and whether Tencent can build a supply system accessible to AI Agents without relying on existing e-commerce platforms to open inventory. With Tencent launching the beta test for WeChat AI Agent in June, the bank has significantly boosted its confidence in the agent’s value creation framework. The Agent service is now sufficiently visible, enabling a clear distinction between its existing components and areas still under development. This has shifted WeChat AI Agent from an AI initiative with no clear timeline to a phased rollout project with observable milestones. The bank believes the initial impact of WeChat AI Agent’s launch on Tencent’s stock price will likely stem from a reduction in risk premium and higher valuation multiples, rather than short-term earnings per share growth. It assigned Tencent an "Overweight" rating, with a target price of HK$690.
6 minutes ago
South Korea is pushing forward civil enforcement rules for virtual assets, with plans to allow courts to seize and liquidate crypto assets.
South Korea’s Supreme Court has issued a legislative notice for the Partial Amendment to the Civil Execution Rules, which will for the first time bring virtual assets under the scope of civil compulsory enforcement. Following a public comment period, the amended rules are set to take effect on October 1, 2026. Key provisions include: Compulsory enforcement of claims for digital asset transfers (courts may launch enforcement via seizure orders, barring third-party debtors like trading platforms from transferring assets to the debtor, while restricting the debtor from disposing of such claims); Compulsory enforcement of digital assets themselves (courts may seize virtual assets held by the debtor, which will be taken over by enforcement officers, with the debtor prohibited from disposal); Liquidation methods: Seized digital assets can be monetized via transfer orders or auction orders. For assets with low liquidity, conversion into other digital assets prior to auction is allowed.
6 minutes ago
Garret Jin increases his short position on ZEC, with the position valued at $14.9 million.
According to monitoring by Onchain Lens, Garret Jin, agent of the "BTC OG Insider Whale", has increased his ZEC short position to 32,759.57 ZEC, worth $14.9 million. Garret still holds a 5x leveraged BTC long position valued at $80 million, currently with a loss exceeding $16.38 million.
More than half of the tokenized real-world asset market showed no weekly transfer activity, according to new research from BeInCrypto.
The report, Real State of Tokenization in 2026, tracked roughly $60 billion in tokenized real-world assets across more than 7,000 products and 12 asset classes. It found that the market is growing fast, but actual on-chain activity remains far thinner than the headline numbers suggest.
Across 1,289 tokenized assets worth more than $100,000, 910 showed zero weekly transfers. Those dormant assets represented $32.9 billion in value, or 56% of the market measured for transfer activity.
Only 379 assets showed weekly movement. Together, they represented $26.2 billion in active value.
Tokenization Has Value, But Not Always Movement The finding points to one of the biggest gaps in tokenized finance. Assets may be brought on-chain, but that does not mean they are actively traded, transferred, or used across financial infrastructure.
The report draws a distinction between “Distributed” assets and “Represented” assets.
Distributed assets can move on public blockchain rails and may be used across wallets, platforms, or DeFi protocols.
Represented assets use blockchain more like an internal ledger or digital record of an off-chain position.
But why does this distinction matter? Because about $27 billion of dormant value came from Represented assets.
In these cases, low transfer activity does not necessarily mean failure. Some products were not designed for public secondary-market movement in the first place.
However, the data still shows that tokenized finance has not yet become a broad, liquid market. Even among active assets, activity is concentrated in a much smaller group than the total product count suggests.
The Next Problem Is Infrastructure The research concludes that tokenization’s next phase depends less on launching more assets and more on building the systems that allow those assets to move, settle, comply with regulation, and reach investors.
Without stronger infrastructure around access, transfer controls, compliance, collateral use, and market depth, many tokenized assets may remain digital records rather than usable financial instruments.
The full BeInCrypto Research report is available here.
