Movement Labs has launched an Ethereum L2 M2 based on Move, which expands modular data availability layers to accelerate the creation of high-performance consumer DApps. Move VM has been optimized for high throughput, with native fee markets and embedded support for formal verification. M2 also extends through Blobstream, transmitting Celestia's high-throughput modular DA to Ethereum for integration by L2.

Earlier, Movement Labs announced the completion of a $3.4 million Pre-Seed round of financing, led by Varys Capital, dao5, Blizzard The Avalanche Fund, Borderless Capital, and its cross-chain fund focused on the Wormhole ecosystem. Colony, Interop Ventures, Elixir Capital, and BENQI also participated.