Storj Labs, the company behind the decentralized cloud storage network Storj, filed for voluntary Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Northern District of West Virginia, Case No. 5:26-bk-00512. The company said the filing is meant to address legacy obligations while preserving its ongoing business operations, with no anticipated interruptions in service to customers. STORJ token traded around $0.0608, down about 18.1% over the prior 24 hours, with a market capitalization of roughly $26 million. As part of its plan of reorganization, Storj said it intends to propose a mechanism for token holders to participate in the equity of the restructured company, subject to court approval.
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