Storj Labs Files for Chapter 11 Bankruptcy Protection on July 27, Plans to Continue Operations

STORJ-15.18%
According to BlockBeats, Storj Labs, the parent company of the decentralized cloud storage network Storj, filed for Chapter 11 bankruptcy protection on July 27 to address historical debt while continuing operations. The company stated that business operations will proceed as normal during the restructuring period, with no interruption to customer services. Storj, founded in 2014, operates a decentralized storage network where users earn STORJ tokens by sharing unused hard drive space to provide cloud storage services globally.
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