Storj Labs, a decentralized cloud storage company, filed for Chapter 11 bankruptcy to address legacy debts while maintaining operations. Unusually, its restructuring plan proposes giving equity to token holders alongside management and investors, a rare move in bankruptcy cases. This filing follows a tough week for crypto, with BitMEX and BitMart shutting down and Movement Labs also seeking bankruptcy protection. The shift in investor focus from crypto to AI has pressured marginal crypto firms like Storj, whose token dropped 16% after the announcement.
Storj Labs, a decentralized cloud storage company, filed for Chapter 11 bankruptcy in West Virginia to manage legacy debts while continuing normal operations. The company previously raised about $35 million through token sales and investments. Storj ...
Storj Labs has filed for Chapter 11 bankruptcy protection to restructure legacy debts while continuing its decentralized cloud storage operations. The company plans to propose shared ownership involving management, investors, community members, and S...
Storj Labs, a decentralized storage company, filed for Chapter 11 bankruptcy to address legacy obligations while continuing normal operations. The filing introduces uncertainty for STORJ token holders, as the token is integral to the network's econom...
Storj Labs filed for Chapter 11 bankruptcy to address old debts that it cannot resolve through growth. Despite the filing, the Storj network and STORJ tokens continue to operate normally. The company plans to offer token holders equity in the reorgan...
