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.
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...
