Storj Labs Files Chapter 11 After Raising $35 Million
Storj said it expects no service interruptions while it sheds legacy obligations and proposes shared ownership for management, token holders and investors.
- On Sunday, July 26, 2026, decentralized cloud network Storj Labs filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Northern District of West Virginia, intending to resolve legacy obligations while maintaining operations.
- Director of Software Engineering Kaloyan Raev said the business remains 'strong and right-sized,' but is held back by 'legacy obligations from an earlier chapter' following its acquisition by Inveniam last year.
- Storj Labs, which raised about $35 million through venture funding and its 2017 token sale, stated it 'does not anticipate any interruptions' to customer services during the bankruptcy process.
- Management plans to share ownership of the reorganized company among investors and token holders, though any proposal requires creditor support and formal approval from the bankruptcy court.
- Storj Labs became the fourth crypto company to announce a wind-down in seven days as investor interest shifts decisively toward artificial intelligence, reflecting broader sector contraction.
13 Articles
13 Articles
Storj Announces Voluntary Financial Restructuring to Resolve Legacy Liabilities and Position the Business for Growth
Storj operations, service, and the network continue as normal; parent continues its support; process designed to align ownership among management, the decentralized community,...
Storj Files Chapter 11 to Resolve Legacy Debt
Key Takeaways: Storj has made an informed decision to file for Chapter 11 to restructure its legacy liabilities without halting business as usual. During the process, the decentralized storage network, the customers’ services and the token’s usefulness are not affected. The company intends to reshape future ownership between management, token holders, investors and its decentralized community. User Score8.7 Follow us on Google News It’s a new d…
Storj Labs is in the middle of insolvency proceedings and is planning an unusual restart. Now token holders could get company shares. Source: BTC-ECHO BTC-ECHO
Storj Token Plunges 17% as Company Behind the Project Files for Bankruptcy
Storj token dropped 17% after Storj Labs filed for Chapter 11 bankruptcy protection in the U.S. The company says customer services and its decentralized storage network will continue uninterrupted. Storj raised about $30 million in its 2017 ICO before entering restructuring nearly a decade later. Storj’s native token, STORJ, fell 17% today after Storj Labs, the company behind the decentralized cloud storage network, filed for Chapter 11 bankrupt…
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