Storj, a decentralized cloud data storage company, files for Chapter 11 bankruptcy and says its network continues operating while the case moves through the court process. According to the company, it will explore a court-approved ownership structure that would allow STORJ tokenholders to receive equity in the restructured business. The filings indicate Storj is working within bankruptcy procedures rather than winding down immediately, and it plans to keep services running during the proceedings.
Multiple reports frame the move as part of a broader period of stress affecting crypto-linked companies, noting that Storj’s token declines following the filing. While the proposed equity path is described as unusual compared with more standard bankruptcy outcomes, the company’s position is that tokenholders could participate in ownership if a plan is approved.
Overall, the sources agree on the key elements: Storj enters Chapter 11, its network continues during the case, and it seeks a restructuring plan that includes an equity mechanism for STORJ holders, subject to court approval and further details to be finalized.
