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.

KB Kookmin Bank was selected for a third consecutive time as the preferred bidder to serve as Seoul Metro’s main banking partner. If it signs a final contract, it will handle Seoul Metro’s funding and payment operations from 2027 to 2030. The bank has managed those tasks since 2020. It plans to provide operating fund management, an integrated cash management system and digital financial services.