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Another Crypto Project Goes Dark as Dango Winds Down

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.

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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.

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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.

https://www.avemarialaw.edu/clarity-act/

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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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.

MOVE Hits All-Time Low After MVMT Labs Bankruptcy: What Happens Next?

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.

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

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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

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.

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.

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.

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.

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. 

Getting money onto a blockchain is the step where most users stop. Not because they lack funds. They already hold balances on Coinbase, Binance, OKX, and dozens of other platforms. The problem is the process: withdraw from an exchange, copy a wallet address, pick the right network, confirm the fee, wait. Most people abandon it somewhere in that chain.

Mesh removes it. A single integration connects a product to hundreds of exchanges and wallets across more than 100 digital assets, and Mesh handles authentication, routing, and transfer underneath, so a user never has to move funds manually

Any app built on Movement can embed Mesh, let a user connect an account they already hold on an exchange or wallet, and pull that balance onchain in a couple of taps.

What Mesh builtMesh is the first global crypto payments network, backed by Dragonfly, Paradigm, and Coinbase Ventures at a $1 billion valuation, connecting hundreds of exchanges, wallets, and blockchains into a single system. The closest comparison is Plaid, but for crypto accounts. It connects a financial app to your bank account; Mesh does the same for exchanges and wallets. One integration gives a product access to all of them, and Mesh orchestrates the rest - connection, authentication, transfer - so the product never manages separate connectors.

Mesh also handles any-to-any conversion: a user can hold MOVE on an exchange and receive a stablecoin on Movement, with the conversion handled automatically. What someone holds and what a product needs never have to match.

Over the past five years, Mesh has built integrations with hundreds of platforms, and that reach matters for Movement because every connected account is a potential funding source for every app on the network.

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 their wallet in a few taps. The same integration pattern is open to every partner building on Movement.

Full CEX deposit support on Movement is targeted for Q3 2026. The integration takes one to three weeks once Movement network support is live across exchanges.

Why this fitsRemittances to low and middle-income countries reached $685 billion in 2024. Those transfers settle in seconds on Movement. But before any of that happens, money has to get onto the network. Movement is where it goes once it does.

Most users in the markets where Movement's partners are building already hold a balance on an exchange. They have the money. They do not have a way to move it into an app without going through a cumbersome withdrawal process. Mesh changes that.

The markets Mesh is expanding into next in  Latin America, Asia, and Europe; are the same markets Movement's partners are building in. Supporting Movement means balances already sitting on exchanges can fund the products those partners are building for those markets.  It puts Movement Network's settlement infrastructure at the end of a funnel that starts on every major exchange.

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.

Top Crypto News This Week: Solana ETF Deadline, Bitcoin Strategy Summit, MOVE Mainnet Launch, and More

Money talks. In cryptocurrency, it screams through megaphones and flies banners across stadium skies. The recent revelation of Polkadot’s $37 million marketing spend has reignited a familiar debate within the blockchain community. Their aggressive growth strategy, complete with influencer campaigns and sports sponsorships, mirrors a pattern seen throughout the industry’s evolution.

Cryptocurrency projects have long walked a tightrope between building awareness and maintaining credibility. Some call it growth hacking. Others label it desperation. The truth lies somewhere in between, hidden in the spreadsheets of marketing budgets and community engagement metrics.

For an industry built on transparency, the methods behind crypto marketing often remain surprisingly opaque. Yet Polkadot’s recent treasury report has inadvertently pulled back the curtain, offering a rare glimpse into the real costs of chasing growth in Web3.

So that begs the question… 

Is Crypto All About the Hype?The crypto industry thrives on promises. Projects launch daily, each claiming revolutionary technology and groundbreaking solutions. Marketing teams craft elaborate narratives about mass adoption and industry disruption. Development roadmaps stretch years into the future while promotion budgets drain treasuries today.

Behind every blockchain project stands an army of social media managers, content creators, and community moderators. They craft narratives, manage expectations, and drive engagement. Marketing budgets often dwarf technical spending. Growth metrics become more important than GitHub commits. The industry measures success through Twitter followers rather than transaction volumes.

Yet this focus on hype serves a purpose. Early adoption requires awareness and communities require nurturing in order to build a foundation. In an industry built on network effects, attention drives value. That’s why smart projects leverage this dynamic, using strategic marketing to build genuine communities. Conversely, others simply throw money at short-term solutions, hoping quantity will translate into quality.

The difference lies in execution. 

Successful projects blend marketing prowess with technological substance. They understand hype’s role in driving adoption while maintaining focus on development. Their marketing spend reflects strategic thinking rather than desperate attempts at relevance. The best teams recognize that sustainable growth requires more than just flashy campaigns and influencer endorsements.

However, recent events have pulled back the curtain on crypto’s marketing machinery, exposing the true cost of chasing growth at any price.

When Marketing Millions Miss Their MarkPolkadot’s treasury report landed like a bombshell in June. The blockchain project spent $37 million on marketing in early 2024, nearly double its development budget. Community members watched in disbelief as the numbers painted a stark picture of modern crypto marketing — one where promotion overshadows product development and short-term visibility trumps long-term value creation.

The granular details of Polkadot’s spending revealed deeper systemic issues within crypto marketing practices. Their influencer campaigns targeting North America and Europe consumed substantial portions of the budget, with each month-long promotion costing roughly $300,000. 

Initial metrics appeared promising, boasting millions of content views and hundreds of thousands of engagements. Yet beneath these surface-level statistics lurked troubling patterns of artificial inflation and questionable value.

Investigation into these marketing initiatives uncovered a complex web of suspicious activities. YouTube channels materialized overnight with implausible subscriber counts, while Twitter profiles coordinated identical content streams across networks of bot-driven accounts. 

Key opinion leaders selected for premium partnerships often displayed signs of manufactured engagement, their follower counts inflated and their content engagement metrics artificially enhanced through coordinated automation.

Polkadot’s broader spending choices raised fundamental questions about value creation in the blockchain space. Their treasury allocated $450,000 for event expenses while community-driven initiatives struggled for basic funding. Premium partnerships consumed resources at an alarming rate, including $480,000 for a two-year logo display on Coinmarketcap and $180,000 for private jet branding. 

These decisions occurred against a backdrop of stagnant token prices and slowing ecosystem development. The project’s marketing strategy exemplifies a growing disconnect between spending and substance in crypto promotion. 

While traditional marketing metrics showed surface-level success, the deeper analysis revealed concerning patterns of inefficiency and waste. Their treasury, currently projected to last another two years at current spending rates, faces mounting pressure from community members questioning the return on these substantial investments. 

The situation highlights a critical challenge facing blockchain projects: distinguishing between meaningful growth initiatives and expensive exercises in vanity metrics.

The Missing Link Between PR and GrowthPublic relations in cryptocurrency often plays second fiddle to aggressive growth tactics. Marketing teams chase viral moments and influencer endorsements while overlooking the fundamentals of strategic communication. This approach stems from the industry’s obsession with immediate results, yet misses crucial opportunities for sustainable growth.

Traditional PR brings subtle but significant advantages to blockchain projects. While sponsored posts generate quick spikes in attention, carefully crafted media relationships build lasting credibility. Industry publications value authenticity over paid placement. Journalists seek genuine innovation rather than promotional noise. These relationships become invaluable during critical moments, from product launches to crisis management.

Most crypto projects struggle to balance immediate visibility with long-term reputation building. Marketing budgets flow freely toward quantifiable metrics like social media engagement and website traffic. Meanwhile, PR initiatives that could strengthen market position and industry standing receive minimal attention. This imbalance creates vulnerability, leaving projects ill-equipped to handle scrutiny or navigate market downturns.

Successful blockchain projects understand the symbiotic relationship between growth hacking and public relations. They recognize that while aggressive marketing drives initial interest, strategic PR sustains momentum through market cycles. Their communication strategies blend traditional media outreach with innovative community engagement. Press releases complement Twitter spaces. Media tours enhance Discord announcements.

You can see the distinction clearly during market turbulence. Projects built on pure hype crumble under pressure, their communities scattering at the first sign of trouble. Those with strong PR foundations weather storms more effectively, maintaining stakeholder confidence through clear communication and established media channels. Their prior investment in relationship building pays dividends when market sentiment shifts.

Smart teams recognize that effective PR extends beyond press releases and media mentions. It encompasses community management, developer relations, and stakeholder communication. This comprehensive approach creates resilience, enabling projects to maintain momentum even when marketing budgets tighten or market conditions deteriorate.

Growth Hack the Right WayThe cryptocurrency industry stands at a crossroads between hype-driven marketing and sustainable growth strategies. Projects rushing toward quick wins through influencer campaigns and paid promotions often find themselves building on shifting sands. Real growth demands more than viral moments and sponsored content. It requires strategic communication, genuine community building, and balanced resource allocation.

Smart projects recognize this evolution in crypto marketing. They understand that tomorrow’s leaders will master the delicate balance between innovative growth tactics and time-tested PR fundamentals. Sustainable success in blockchain requires more than just spending power — it demands strategic vision, authentic communication, and unwavering commitment to genuine value creation.

About the AuthorJamie Kingsley is a prominent figure in the crypto PR industry, serving as the COO and Co-Founder of The PR Genius (PRG). He has played a crucial role in transforming PRG from a small, niche firm into a multi-service growth marketing agency. Kingsley’s strategic leadership facilitated a successful pivot from lead generation to public relations, enabling the agency to work with high-profile clients such as IO.net, Yellowheart, Radix, Movement Labs and RTFK Studios.

In addition to his role at PRG, Kingsley is a Board Member of the Asia Web3 Alliance Japan, where he contributes to the advancement of decentralized internet initiatives in a rapidly growing blockchain market. His expertise in media strategy and growth hacking has positioned him as a key influencer in the crypto space, recognized for his adaptability and resilience in navigating the industry’s challenges.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

Kekius Maximus, a viral meme, has evolved into more than just a fleeting internet trend. It has become a symbol of community, innovation, and cultural significance, thanks to its unexpected connection to Elon Musk and its integration into the world of cryptocurrency.

Ergo, this article explores the origin of Kekius Maximus, the creation of its token, and the growth of its community, as well as the broader implications for meme culture, blockchain technology, and decentralized governance.

The Birth of Kekius Maximus GROK AI and Meme Creation The story of Kekius Maximus begins with GROK AI, a cutting-edge tool made available for free to all X (formerly Twitter) users. Alex Lorusso (@ALX), an Executive Producer for The Benny Show podcast, political strategist, and the man behind the prediction of Elon Musk’s acquisition of Twitter, utilized GROK AI to generate three memes. The first among these was Kekius Maximus, which he posted on X.

The Immediate Impact Within just five seconds of the post going live, the Solana-based contract address (CA) associated with the meme was minted, with a distinctive address ending in 42. This rapid success marked the beginning of Kekius Maximus’ journey from a simple meme to a cultural phenomenon.

Elon Musk’s Role in Amplifying Kekius Maximus Musk’s First Interaction As meme coins remain a major topic of discussion in the crypto space, Elon Musk, the CEO of X and a global icon, quickly took notice of the meme. Musk shared the Kekius Maximus meme on his own timeline with a brief but enthusiastic caption: “Amazing.” This endorsement from Musk served as a major catalyst in amplifying the meme’s visibility and reach.

The Autism Capital Boost Just four days later, the X account @AutismCapital, an account that frequently interacts with Musk, created a GROK AI-generated version of the Kekius Maximus meme. Musk again reposted this meme, further expanding its reach and solidifying its place in meme culture.

Musk Adopts Kekius Maximus Musk’s involvement with Kekius Maximus deepened when he adopted Kekius_Maximus as his gaming handle for Path of Exile, an online action RPG. This step connected the meme to Musk’s gaming persona, giving it even more cultural weight.

Musk’s X Account Name Change The meme reached a new level of significance when, 21 days after its creation, Musk changed his X account name to Kekius Maximus. He also updated his profile picture to a new GROK AI-generated image of the meme, further cementing its cultural and personal relevance to Musk.

The Kekius Maximus Token (CA) Alongside the rise of the meme, the Kekius Maximus token was minted on the Solana blockchain. This was the first-ever token associated with the meme, with a unique contract address ending in 42. However, the original deployer abandoned the token shortly after its creation, leading to a small Community Take Over (CTO) of the project.

Early Struggles and the Ethereum Coin Initially, the token struggled to gain traction, especially after a similar token minted 4 days later on the Ethereum blockchain gained more attention. Despite this, the unique aspects of the Solana-based token—including its minting as the first Kekius Maximus token and its distinctive address—began to attract more interest.

The Symbolic Number 42 The number 42, famously known as the “Answer to the Ultimate Question of Life, the Universe, and Everything” from The Hitchhiker’s Guide to the Galaxy, is a number Musk has publicly embraced in his business ventures and playfully on X. This connection added even more intrigue to the token’s unique contract address ending in 42, giving it a symbolic significance that resonated with Musk’s followers.

Historical Significance Further boosting the token’s cultural weight, the @Kekius_Maximus X handle linked to the Solana token contract address ending in 42, was established before Musk adopted the name for his gaming handle and X account.

This rare alignment of events—being the first, having a contract address ending in 42, and sharing the same handle as Elon—added to the serendipity of the token’s origins, making its story feel almost impossibly improbable.

The Community Take Over (CTO) and Growth With the original deployer’s exit, a dedicated CTO formed around the token, focusing on revitalizing the project and expanding its community. Despite initial challenges, the CTO drew attention to the token’s unique history and connection to Musk, sparking interest.

Expanding the Team As the project grew, a diverse group of individuals with expertise in crypto, Web 3.0, and even Tesla-related engineering projects joined the CTO. Some members identified themselves as “Elon historians,” deepening the narrative around the token and its association with Musk.

Building the Community The CTO has focused heavily on community-building, emphasizing decentralized governance and participation. By creating meme groups and leveraging platforms like X and Telegram, the project has fostered a space where anyone can contribute ideas or suggestions for future memes and direction.

Strategic Goals and Future Vision The team is committed to maintaining a community-driven approach, inspired by successful projects like Niero CTO. The focus is on creating engaging stories and content that resonate with the community, while ensuring that governance remains decentralized and inclusive.

Expanding Token Accessibility One of the key goals for the team is to increase accessibility for the token. The CTO is working on securing token listings across various platforms and jurisdictions to allow a broader audience to participate in the project. Additionally, token giveaway campaigns have been organized to include community members who cannot participate financially.

Long-Term Vision While the project has gained attention due to Musk’s involvement, the team’s focus is on long-term success. As the first-minted token associated with Kekius Maximus, the team believes the token’s value is rooted in its unique history and cultural significance, not just short-term market trends.

Becoming a Meme Leader on Solana

Being built on Solana—often referred to as the “home of memes”—the team aims to position Kekius Maximus as the leading frog/pepe meme token on the network. With a clear gap in the market, the team is ready to step up and claim this position, filling an untapped niche in the meme space on Solana.

Conclusion Kekius Maximus transcends its origins as a viral meme, evolving into a symbol of perfect timing, community, and the surprising intersections of culture, gaming, and blockchain.What began as a meme has grown into a movement, with milestones like Elon Musk’s involvement amplifying its reach. However, the real power of Kekius Maximus lies in its community-driven spirit and forward-looking vision.

As the first minted token of its kind, with a distinctive address ending in 42, Kekius Maximus ($KM on Solana) is primed to make a lasting impact on memes, cryptocurrency, and pop culture. Its journey is just getting started, with influence destined to expand exponentially.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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Korea Blockchain Week 2024 Bolsters Its Flagship IMPACT Conference With the Inaugural Institutional Stage

Jiang Zhuoer: This round of Bitcoin bear market may bottom out in Q4 2026, with a target range of $42,000 to $44,000.

BTC.TOP founder Jiang Zhuoer wrote in a post that Strategy’s modified net asset value (mNAV) has fallen to 0.72, near the 0.7 low hit in May 2022 during the last bear market. Citing recent market sentiment events including STRC’s depegging, he noted that mNAV is now in the bottom zone of this cycle. mNAV usually bottoms roughly six months before Bitcoin’s price. Using the "four-year cycle" and volatility decay model, Jiang projected that this Bitcoin bear market will likely bottom between October and December 2026, with a target price range of $42,000 to $44,000. He added that his recent medium-short term strategy remains focused on selling spot assets and holding short positions, and will switch to buying spot and going long once the expected bottom arrives.

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The VIX Fear Index for the US stock market stands at 18.63 today, with fear sentiment intensifying in the crypto market.

According to Cboe data, the U.S. stock market's VIX Fear Index stands at 18.63 as of today, down 0.86 points from the prior reading of 19.49, marking a decline of approximately 4.41%. Separately, per Alternative data, the Crypto Fear & Greed Index is at 12 today (compared to 17 yesterday), indicating intensifying extreme fear sentiment.

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Crypto token M plunged over 80% in a short period, hitting a low near $0.5.

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Whale 0xbilly pulled off another "buy high, sell low" move, exiting with a $220,000 loss in a single day.

According to EmberCN’s monitoring, whale address 0xbilly liquidated 2,409 ETH in the early hours of today when ETH fell to around $1,569.5, worth approximately $3.78 million, with a total loss of roughly $220,000. Notably, this batch of ETH was purchased just one day ago for about 4 million USDC, at an average price of approximately $1,660.2. The address also previously bought 7,768.5 ETH at a high of $2,254 in March this year, valued at around $17.51 million, and exited via stop-loss four days later, incurring a loss of roughly $800,000.

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Ethereum Whale’s $1.7 Billion Exit from Aave Triggered stETH Depeg 

BeInCrypto Institutional Research: 15 Blockchain Infrastructure Firms Powering Wall Street Adoption