Storj Files for Chapter 11 Bankruptcy, Token Drops 17%

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Storj, the decentralized storage platform, has filed for Chapter 11 bankruptcy protection in the United States due to pressure from legacy debt, causing the STORJ token price to drop by 17% following the announcement. The filing aims to restructure debt and continue operations under bankruptcy court protection.

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Storj filed for Chapter 11 bankruptcy due to legacy debt pressure, causing token price drop.