[Movement Labs Files for Chapter 11 Bankruptcy Protection, Previously Scrutinized for Rapid Sale of 66 Million MOVE Tokens] Odaily Planet Daily News: Blockchain developer Movement Labs has filed for Chapter 11 bankruptcy protection. The project was previously scrutinized due to a market-making agreement that allowed the rapid sale of 66 million MOVE tokens, which subsequently led to a sharp decline in MOVE's price, triggering investigations and token buybacks. Recently, Movement Labs shifted its focus to cross-border payments and stablecoin settlement services. During the Chapter 11 proceedings, the follow-up arrangements for its blockchain network, partnerships, and payment expansion plans remain unclear, though operations can continue during the restructuring process.