STORJ Drops 14.72% to 0.062 USDT Low Amid Chapter 11 Filing

STORJ price fell 14.72% in 24 hours, hitting a low of 0.062 USDT. The decline follows Storj Labs' Chapter 11 bankruptcy filing to restructure debt while maintaining operations.

Woofun AI data shows that STORJ reached a short-term low of 0.062 USDT, currently trading at 0.063 USDT, reflecting a 14.72% decline over the past 24 hours.

Storj Labs, the parent company of the encrypted cloud storage platform Storj, has filed for Chapter 11 bankruptcy protection to resolve historical debts. The company stated that operations will continue without disrupting customer service during restructuring, with plans for the restructured entity to be jointly owned by management, the community, STORJ token holders, and investors.