Storj files Chapter 11 to restructure debts, network and tokens remain operational.

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 reorganized business, but creditors will be paid first and any equity offer requires court approval. This move follows previous ownership promises and reflects ongoing challenges in the decentralized storage sector.