Bitcoin News
By Jean-Luc Maracon
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STORJ Token at $0.072 as Equity Plan Takes Shape. At the time of the announcement, STORJ was trading at roughly $0.072.
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A 2014 Pioneer Joins a Growing Bankruptcy List. Storj started in 2014. That makes it one of the older decentralized infrastructure projects still…
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Storj Labs is bankrupt. The decentralized cloud storage company filed for Chapter 11 protection with the US Bankruptcy Court for the Northern District of West Virginia, and it's…
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The company wants tokenholders to end up with actual equity in whatever comes out the other side. That's the headline buried inside the filing.
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At the time of the announcement, STORJ was trading at roughly $0.072. No immediate major price swing.
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The equity plan itself is still pretty vague. Storj said it intends to propose a method for tokenholders to acquire ownership stakes in the reorganized entity, but details on…
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What makes this interesting is that it's not really a playbook anyone's run before. Utility tokens in bankruptcy proceedings are murky territory.
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See also: Dango Shuts Down Trading and Layer 1 Blockchain Amid 17 Crypto Failures in 2026
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But the filing lands in a rough month. July saw two other crypto companies also go Chapter 11. Movement Labs filed under Subchapter V after problems with its MOVE token.
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And there's more. BitMEX, the derivatives exchange that's been around for 11 years, announced it's shutting down entirely.
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The broader decentralized storage market has faced pressure for years. Competing projects, shrinking token prices, and the sheer difficulty of convincing enterprises to trust…
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Whether the equity-for-tokenholders idea actually works depends on a lot of things Storj hasn't answered yet. How many tokenholders qualify?
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Read also: Binance Ties Employee Dismissals to Monthly Phishing Test Failures
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Inveniam's continued backing probably buys Storj some operational runway. But the legal process is slow, and the crypto market won't wait around for court schedules.
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Storj's network has been running for over a decade. Whether it makes it to year twelve in recognizable form is the question nobody can answer right now.
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