Movement Labs Bankruptcy Shows How $141M In Funding Couldnt Buy A Viable Blockchain
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 hasnt 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 doesnt 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









