Storj Labs, the company behind the Storj decentralized storage network, filed for Chapter 11 bankruptcy protection on July 26 in the US Bankruptcy Court for the Northern District of West Virginia (Case No. 5:26-bk-00512). The filing aims to resolve legacy obligations from prior operations and acquisitions while maintaining normal operations for customers and node operators. The STORJ token, with a fixed maximum supply of 425 million, serves as the economic backbone of the decentralized storage network, leaving token holders in a position analogous to equity holders during restructuring, typically at the bottom of the creditor hierarchy. Binance had placed STORJ under a monitoring tag in May 2026, a designation that precedes the bankruptcy filing by only two months. Inveniam Capital Partners, which acquired Storj in October 2025 through a reverse triangular merger, is backing the reorganization process.
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