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 in a blog post. Storj said the filing is meant to address legacy obligations while preserving its ongoing business operations.
The company said it will continue operating in the ordinary course throughout the process and does not anticipate any interruptions in service to customers, subject to court oversight. Its parent company, Inveniam, has continued to support the business and endorses the reorganization, Storj said.
STORJ traded around $0.0608, down about 18.1% over the prior 24 hours, according to CoinGecko. The token carried a market capitalization of roughly $26 million. Bitcoin was little changed over the same window.
In a separate open letter to its token community, Storj said it intends to propose, as part of a plan of reorganization, a mechanism for token holders to participate in the equity of the restructured company. The design, including eligibility, mechanics, and terms, will be developed during the process and disclosed formally, the company said.
