The decentralized cloud storage project Storj has filed for Chapter 11 bankruptcy protection, putting pressure on $STORJ. Bankruptcy does not equate to immediate shutdown; Storj states that the network will continue operating and aims to provide $STORJ holders with a pathway to ownership participation. However, the fact that an infrastructure project has reached bankruptcy restructuring indicates that its cash flow and business model are no longer sustainable—eroded trust is a more tangible reality than short-term narratives.
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