STORJ

Storj

2026-07-28 09:20:19

Storj Labs files for Chapter 11 and floats equity conversion for STORJ holders

Storj Labs, the decentralized cloud storage company behind the STORJ token, filed for Chapter 11 protection on July 26 in the U.S. Bankruptcy Court for the Northern District of West Virginia, case number 5:26-bk-00512. The company said the filing was driven by legacy debt rather than a breakdown in day-to-day operations, with engineering director Kaloyan Raev describing the move as a decisive and constructive step. Storj said its network will keep running during the restructuring process, token functionality will remain intact, and customer services will continue without interruption. The restructuring proposal has drawn attention because it includes a possible framework under which management, existing investors, community members, and STORJ token holders could jointly own the reorganized company. Still, the plan is short on details. No eligibility rules, snapshot date, lock-up terms, or equity allocation ratios have been released, and any final arrangement would need creditor support and court approval. Analysts cited in the report also flagged a potential conflict because Storj Labs still holds roughly 30% of the token’s 425 million total supply. The filing comes as the crypto sector faces a broader shakeout. STORJ fell about 16% in 24 hours to around $0.062, leaving the token nearly 98% below its March 2021 peak of $3.81 and putting market capitalization at roughly $28 million. The report described Storj as the fourth crypto project in a week to announce bankruptcy or closure-related action.

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KuCoin Ventur

2026-07-27 10:00:00

KuCoin Ventures weekly report flags crypto washout under high funding costs and tighter liquidity

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.

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Storj

2026-07-27 10:41:03

Storj files for Chapter 11 as four crypto firms exit or falter within a week

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.

2100

Storj

2026-07-27 09:15:43

Storj files for Chapter 11 as token drops 16%

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.

530

Storj

2026-07-27 06:51:44

Storj drops 15% in 24 hours after Storj Labs files for Chapter 11

Storj fell 15% over the past 24 hours after its parent company, Storj Labs, filed for voluntary reorganization under Chapter 11 of the U.S. Bankruptcy Code. HTX market data showed the token remained under pressure following the bankruptcy announcement. BlockBeats had previously reported that Storj Labs, the parent of the decentralized cloud storage project Storj, sought Chapter 11 protection to address historical debt while continuing operations. The filing links the token’s recent weakness to the company’s restructuring process, with the latest market data pointing to an extended slide after the announcement.

1580

Storj

2026-07-27 06:58:54

Storj files for Chapter 11, says operations and network will continue as usual

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.

2090

BitMart

2026-07-27 05:55:00

BitMart, BitMEX and two other exchanges exit within a month as 2026 crypto shutdown list reaches 100

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.

2400

Storj

2026-07-27 03:49:48

Storj files for Chapter 11 and explores equity path for STORJ holders

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.

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