Decentralized storage platform Storj has filed for Chapter 11 bankruptcy. Its network will continue operating. Storj is exploring a court-approved way to give STORJ token holders ownership in the company during this process.
Decentralized storage platform Storj has officially filed for Chapter 11 bankruptcy. This move comes as the company aims to reorganize its business while ensuring its network remains fully operational. Storj has stated that its storage service, which allows users to store data across a distributed network, will continue without interruption. A key part of the bankruptcy process involves exploring a court-approved mechanism. This mechanism would allow STORJ token holders to potentially receive an ownership stake in the reorganized company. The goal is to provide a path for token holders to convert their digital assets into equity, reflecting their contributions to the platform during this restructuring phase.
338.002 SRY