Topic: #legal
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MVMT Labs files Chapter 11 bankruptcy after $38M Series A
Movement Labs' parent company MVMT Labs filed for Chapter 11 bankruptcy protection in July, listing $100,001 to $1 million in assets against $1–$10 million in liabilities, despite raising $38 million in April 2024. Move Industries says it has no affiliation with the debtor.
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Sioux Falls crypto investor indicted on 29 counts in $20M fraud
Benjamin Paul Wiener was indicted on wire fraud, money laundering, and identity theft charges after prosecutors say he used eight entities to move investor funds through crypto exchanges and financial institutions, repaying earlier victims with new money.
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HTX delists USD1 stablecoin, converts balances to USDT
Crypto exchange HTX will permanently remove World Liberty Financial's USD1 stablecoin from its platform and convert eligible customer holdings to Tether at a one-to-one rate beginning June 7, escalating a dispute over frozen blockchain wallets.