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Home›Crypto›Altcoins›STORJ token falls 20% after Storj Labs files for Chapt…

STORJ token falls 20% after Storj Labs files for Chapter 11

The Block says Storj Labs filed for voluntary Chapter 11 on July 26 to address legacy liabilities as parts of the crypto industry face shutdowns.

Reported · Written up by our desk · Altcoins

STORJ token has fallen sharply after Storj Labs filed for voluntary Chapter 11 bankruptcy, adding to losses seen across the crypto sector during a wave of shutdowns.

According to The Block, the token dropped about 19% to $0.06 following the filing on July 26, as the company moved to resolve what it described as legacy liabilities.

The filing is intended to address those outstanding obligations through the bankruptcy process, according to The Block.

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Sources

The BlockSTORJ token falls 20% as decentralized storage firm files for Chapter 11 bankruptcy amid crypto shutdown wave

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