POPA ReconStorj Labs Files for Chapter 11 Bankruptcy After Raising Approximately $35 Million
Storj Labs Files for Chapter 11 Bankruptcy After Raising Approximately $35 Million Storj Labs, the company behind decentralized cloud storage network Storj, has voluntarily filed for Chapter 11 bankruptcy protection to address legacy debt while continuing operations. The company said customer services will remain uninterrupted during the restructuring. Management, the community, STORJ token holders and investors are expected to jointly own the reorganized company. Storj Labs previously raised about $5 million in traditional funding and grants, alongside roughly $30 million through its 2017…
The excerpt is quoted from a public Telegram channel, which owns its text.