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cryptoJul 27, 2026, 9:19 AM

Storj Files for Chapter 11 Bankruptcy, Offers Equity to Token Holders

Decentralized storage provider Storj Labs has filed for Chapter 11 bankruptcy protection, while planning to give STORJ token holders a stake in the reorganized company. The token price dropped more than 15% on the news.

STORJUSD

Storj Labs, the decentralized cloud storage firm, has filed for Chapter 11 bankruptcy protection, the project team announced. The network will continue operating as usual under court supervision during the restructuring.

The company intends to offer STORJ token holders a mechanism to participate in the equity of the reorganized entity, but no details have been disclosed yet.

The token, which first appeared in 2014, fell more than 15% on the news, dropping to around $0.06.

Source: ForkLog