Storj Labs files Chapter 11 to restructure debt, keeps decentralized cloud services running

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 STORJ token holders. Despite the filing, Storj expects no interruption to its services or the STORJ token's network role. The bankruptcy process will review Storj's finances and reorganization plans, with more details expected in future court filings.