The U.S. Senate has temporarily sidelined the Clarity Act while it works through other items, narrowing the near-term window for one of the crypto industry’s most closely watched market structure bills. Majority Leader John Thune is prioritizing government nominations and a Russia sanctions bill, while this week’s schedule is also constrained by time set aside for the funeral of late Senator Lindsey Graham. Under current Senate procedure, the Clarity bill may not reach the floor until next week, just before the August 8 recess. The delay comes as large financial firms continue to line up behind the legislation. BlackRock publicly backed the bill, with Samara Cohen calling it an important step toward an investor-first digital asset framework. Franklin Templeton also voiced support, and the report said Fidelity, Goldman Sachs CEO David Solomon, and Charles Schwab have recently expressed similar views. Policy analysts cited in the report have cut the odds of passage this year to 30%. Elsewhere in the roundup, X Money began rolling out to U.S. Premium and Premium+ subscribers. Hyperliquid said Trade.xyz is investigating the SKHYNIX perpetual contract spike incident, while South Korea is studying a rule that would cap single-stock leveraged exposure at 20% of an individual’s total financial investment products. The report also covered whale activity, market data, venture fundraising, and a series of crypto and AI industry developments.

Binance said it will remove eight spot trading pairs and halt trading for them at 11:00 Beijing time on July 31, 2026, according to an official announcement cited by BlockBeats on July 28. The pairs listed for removal are ERA/BNB, MAGIC/USDC, MASK/USDC, MOVE/TRY, MOVE/USDC, POL/BTC, STORJ/TRY, and SUSHI/USDC. Binance also said spot trading bot services tied to those pairs will end at the same time, and advised users to update or cancel their bot settings in advance. The exchange added that the delisting of these pairs will not affect the availability of the underlying tokens in spot trading, as users will still be able to trade the relevant assets through other available spot pairs.

KuCoin Ventures said in its latest weekly report that the market is reassessing crypto projects through balance-sheet quality, governance, real revenue and cash burn rather than headline funding rounds or token narratives. The report pointed to Movement Labs and Storj Labs, both now in Chapter 11 proceedings, as two different stress cases: one tied to token launch structure and internal controls, the other to legacy debt and long-running operating pressures. It argued that the broader shakeout is not just about highly funded projects failing, but about capital efficiency from the previous cycle being tested in a harder financing environment. The report also focused on macro conditions. Brent crude briefly moved back above $100 a barrel, shipping through the Strait of Hormuz and the Red Sea remained disrupted, and U.S. Treasury yields rose as markets priced inflation risk alongside fiscal and term-premium concerns. In crypto, Bitcoin briefly touched $65,504 on July 27 before slipping back toward $65,100, while spot Bitcoin ETF trading volume fell to about $8.05 billion for the week, the lowest for a full trading week since October 2024. Ethereum spot ETFs, by contrast, posted about $103 million in net inflows, topping Bitcoin ETFs for a second straight week. KuCoin Ventures also highlighted stablecoins and private funding. Global stablecoin market capitalization stood at about $310.36 billion, while Galaxy Research data showed roughly 355 crypto funding deals totaling about $4 billion in the first quarter of 2026, with around 57% going to later-stage projects. Among recent deals, Augustus raised $180 million in a Series B at a $1 billion post-money valuation.

Storj Labs, the company behind the decentralized cloud storage platform Storj, has filed for Chapter 11 bankruptcy protection in the United States, saying the move is aimed at resolving legacy debt rather than addressing a breakdown in its current business. The company said the platform will continue operating without service disruption during the restructuring process, and added that Inveniam, which acquired Storj last year, supports the plan and will continue assisting the company. Storj also plans to sell some previously acquired business lines and non-core assets to simplify its operating structure. The filing came as STORJ, the project’s native token, fell about 16% to roughly $0.06. Reported daily trading volume was close to $20 million, against a market capitalization of about $27 million. The article also said STORJ is down 79% over the past year and about 98% from its March 2021 peak of $3.81. Storj’s restructuring proposal includes an unusual provision: equity in the reorganized company would be distributed to management, token holders, and investors. Over the past seven days, BitMEX, BitMart, and Ethereum Layer2 project Movement Labs have also announced shutdowns, wind-downs, or Chapter 11 proceedings, as capital is increasingly redirected toward AI.

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.

Storj Labs, the company behind the decentralized cloud storage protocol Storj, has voluntarily filed for Chapter 11 protection in a U.S. bankruptcy court as it tries to address legacy liabilities built up over several years. The company said the filing is a reorganization, not a Chapter 7 liquidation, and that customer data access, node operations, enterprise services, and the Storj network will continue without interruption. Storj, founded in 2014, is one of the earliest decentralized infrastructure projects in crypto and entered the decentralized storage sector before Filecoin. The project also has deep ties to Ethereum’s early history: Vitalik Buterin was listed as a contributor to Storj’s first white paper in 2014 and was still credited in its 2016 second edition. Storj said it began selling certain non-core businesses and assets after completing its acquisition by Inveniam last year, with the aim of refocusing on its decentralized cloud storage platform. The company also said it plans to submit a reorganization proposal that could give eligible STORJ token holders a chance to receive equity in the reorganized company, though the plan still needs court approval and no eligibility rules or allocation details have been released.

BitMart moved from an upbeat first-half report to an orderly shutdown in just nine days, capping a month in which BitMEX, AscendEX and EXMO also left the market. RootData’s 2026 list of dead crypto projects has now reached 100, but the number alone does not match the collapse years of 2022 or 2023. The more striking shift is in who is disappearing: not just short-lived token plays, but older brands with users, revenue and long operating histories. The report argues that this year’s casualties point less to sudden systemic blowups and more to a breakdown in business models, especially among mid-sized platforms squeezed between dominant exchanges and low-cost on-chain products. It also highlights Storj’s Chapter 11 case, where the company said it would explore a court-approved path for STORJ token holders to participate in post-reorganization equity, a move that could test the legal treatment of utility tokens in bankruptcy. Even so, the report says project shutdowns are a lagging indicator and cannot, on their own, confirm that the market has bottomed.

Storj, the decentralized cloud storage project founded in 2014, filed for Chapter 11 bankruptcy protection on July 26 in the U.S. Bankruptcy Court for the Northern District of West Virginia. The company said the filing was voluntary and that its network and customer services will continue operating during the restructuring process under court supervision, with support from parent company Inveniam. What sets this case apart is Storj’s proposal to explore a mechanism that could allow STORJ token holders to receive equity in the reorganized company. The firm said its liabilities largely stem from its early-stage period and cannot be fully absorbed through business growth alone. Key details remain undisclosed, including how token holder eligibility would be determined, whether a token snapshot or lockup would be required, what the equity allocation ratio might look like, and how any plan would fit within bankruptcy priority rules and court approval. The report also noted other crypto-sector insolvency developments in July 2026, including filings by Movement Labs and Poolin, while BitMEX chose an orderly wind-down rather than bankruptcy. STORJ showed no significant price reaction after the announcement, trading at about $0.072, according to CoinGecko.