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Crypto

Movement Labs files for Chapter 11 bankruptcy protection amid MOVE token turmoil

Movement Labs, an Ethereum layer-2 developer, has filed for Chapter 11 bankruptcy protection in the U.S. District of Delaware. The filing was submitted on July 15 under Subchapter V, a streamlined restructuring process for qualifying small businesses. The court approved interim motions allowing the company to keep its banking and cash-management systems and obtain debtor-in-possession financing. The deadline for creditors to file claims is Sept. 14.

Crypto

Grayscale moves to launch spot Worldcoin ETF, pending SEC and Nasdaq approval

Asset manager Grayscale has begun procedures to launch a spot exchange-traded fund based on the Worldcoin token, WLD. It filed a registration statement with the U.S. Securities and Exchange Commission for the Grayscale Worldcoin ETF, which would track a CoinDesk benchmark rate and list on Nasdaq under the symbol GWLD. The filing details custody and administration partners and flags regulatory risks, token volatility and ownership concentration.

Finance

Brokerages cut domestic branches and step up global push

South Korean brokerages are accelerating overseas expansion as mobile trading prompts further streamlining of domestic branches. As of end-2025, 16 firms operated 93 overseas outlets, up by 13 from a year earlier, while overseas subsidiaries’ net profit rose 67.8 percent. Domestic branches at the top 10 brokerages slipped to 438 as of March 31. Firms are widening foreign omnibus account services and building networks across the United States, Hong Kong, Southeast Asia and India.