Storj, the decentralized cloud storage provider, filed for Chapter 11 bankruptcy but assured users its network will keep running uninterrupted. The company plans to seek court approval for a new ownership structure that could benefit STORJ tokenholders.
Despite the financial restructuring, Storj emphasized that service continuity remains a priority. The move aims to protect the platform and explore avenues to preserve or even enhance value for the community holding its native tokens.
With this development, Storj joins a growing list of crypto projects navigating bankruptcy while trying to maintain operations, highlighting challenges in the sector’s evolving landscape.
