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Storj Files Bankruptcy to Reorganize Legacy Debt Amid Ongoing Cloud Storage Operations

Guavy AI Editorial Team
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Storj Labs, a blockchain-powered decentralized cloud storage platform, has filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Northern District of West Virginia on July 26.

The company aims to restructure its legacy debt and continue operating its cloud storage network, which will remain unaffected by the bankruptcy filing.

Storj plans to implement shared ownership among investors, management, communities, and STORJ token holders as part of its restructuring efforts.

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