Storj Labs Files for US Bankruptcy Amid Crypto Restructuring Wave

Storj Labs, the decentralized cloud storage provider behind the STORJ token, has filed for Chapter 11 bankruptcy protection in the United States. The company says it will continue operating its network and providing customer services while it restructures legacy liabilities and seeks a court-approved pathway that could allow tokenholders to participate in the ownership of a post-bankruptcy entity.

The company's parent, Inveniam, will continue supporting Storj during the restructuring process, subject to court oversight. This is not an immediate indication of financial trouble for the STORJ token itself, which was trading around $0.072 at announcement time, according to CoinGecko data.

Storj emphasized that its core network utility remains unchanged and that its liabilities largely predate its current strategy. The company's approach is significant because decentralized infrastructure businesses rely on ongoing participation and service continuity.