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🚨 Storj Labs has filed for Chapter 11 bankruptcy protection
Storj was one of the earliest Web3 projects focused on decentralized cloud storage, launching back in 2014
The company says the filing is intended to restructure legacy liabilities, while the network and customer services are expected to continue operating during the process
The $STORJ token reacted sharply to the news, dropping around 20%
#STORJ #Crypto #Web3 #Blockchain