Movement Labs
- 🦄Became a unicorn2025
- 📈Peak valuation$3 Billion ’25
- 💔Became a Unitard2026
- 💸Last valuationWiped out
How it happened
Movement Labs was founded in 2022 by two Vanderbilt dropouts to bring Meta's abandoned Move programming language to Ethereum, and rode the 2024-25 crypto upswing from a $38M Polychain-led Series A to a roughly $3B valuation on a $100M Series B co-led by CoinFund and Brevan Howard's Nova Fund. The unravelling began with a market-making agreement that placed 66 million MOVE tokens with an intermediary: wallets tied to the market maker sold into the token's exchange debut the next day for about $38M, the price collapsed, and an internal review led to a co-founder's removal and litigation that is still running. By the time MVMT Labs filed for Chapter 11 in Delaware in July 2026 the token was down more than 99% and the network was collecting single-digit daily fees, against $141.4M raised.
Source: Reuters/The Block: ~$100M Series B co-led by CoinFund and Brevan Howard's Nova Fund at a ~$3B valuation, early 2025; CoinDesk/Invezz: MVMT Labs filed Chapter 11 in the District of Delaware in July 2026 listing $100,001-$500,000 of assets against $1M-$10M of liabilities; $141.4M raised in total
