Decentralized data storage company Storj has filed for Chapter 11 bankruptcy protection, according to CoinDesk. The company said operations will continue during the process and proposed an unusual restructuring arrangement in which token holders would receive equity in the reorganized business. Following the news, the STORJ token fell 16%. The filing adds to a week that has already seen multiple crypto-sector failures. The article was written by Shaurya Malwa and edited by Sheldon Reback, and was published on July 27, 2026.
Decentralized data storage company Storj has filed for Chapter 11 bankruptcy protection, extending what CoinDesk described as a week of crypto failures.
The company said operations will continue and proposed that token holders receive equity in the restructured business, an arrangement CoinDesk said is unusual in bankruptcy.
The STORJ token slid 16% after the development.
The report was written by Shaurya Malwa and edited by Sheldon Reback. It was published on July 27, 2026.
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