Movement creator files for bankruptcy after token scandal
Telegram CEO just teased a zero-fee crypto wallet for a billion users this summer.
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Not every crypto story ends well. But some are just getting started.
A once-hot blockchain startup just entered bankruptcy, while Durov's Telegram decided to go big on wallets.
Plus, Tether's Bitcoin vehicle swapped CEOs, and Bitcoin edged back toward $67K on regulatory optimism.
Here's your daily market briefing.
Movement's original developer goes bankrupt
MVMT Labs has filed for Chapter 11 after a turbulent year.
The startup went from raising capital at a multibillion-dollar valuation to battling governance disputes, a Binance ban and a 99% collapse in MOVE.
Move Industries says it remains operational, reinforcing its message that the Movement ecosystem has turned the page.
Markets
Bitcoin rallies as Treasury Secretary says crypto bill is almost done
Treasury Secretary Scott Bessent told lawmakers they're at the "1 yard line" on the Clarity Act.
The bill would finally sort out which agencies oversee digital assets.
Bitcoin has bounced roughly 14% this month on stronger volumes and renewed ETF inflows.
BTC traded near $66K, ETH held below $2K, SOL sat near $78, and XRP edged toward $1.16.
Telegram plans native Gram wallet rollout to over a billion users
Pavel Durov says every Telegram app will get a non-custodial Gram wallet this summer.
The wallet promises instant, zero-fee crypto transactions baked directly into the messaging platform.
If it ships, it would be the largest single distribution event in crypto history.
Jack Mallers steps down as Twenty One Capital CEO to go all-in on Strike
Twenty One Capital just handed the keys to board member Raphael Zagury.
Mallers founded Strike, a Bitcoin payments company, and says it needs his full attention.
The move signals that even crypto's biggest dealmakers are choosing focus over empire-building.
On Our Radar
Privacy's the new moat: anonymity in crypto is becoming table stakes for product survival.*
Futures on futures: Kalshi wants CFTC approval to trade perpetual metals contracts.
Night shift energy: LSE finally staying up late to compete with crypto markets.
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That’s a wrap.
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