Not sure why this wasn’t posted here but…
Why are you saying bankrupcy? Restructuration dosen’t mean bankrupcy. Stop spreading false rumors.
I guess time has come to put my HDDs on ebay… 
Because this is what it is named:
Because in Storj announces voluntary financial restructuring to resolve legacy liabilities and position the business for growth that’s what it says.. chapter 11
Hmm… don’t know US laws.
Storj will continue operating in the ordinary course throughout the Chapter 11 process. Storj also does not anticipate any interruptions in service to its customers, and will continue meeting its obligations, subject to the United States Bankruptcy Court in the Northern District of West Virginia and applicable bankruptcy statutory provisions.
So as we are at the end of the month will the process have any implication for upcoming payout schedule or will SNOs be paid as normally. Do they have to file claims or have in any way to interact with Storj or the court to receive the current months payouts?
I realy don’t think they are bankrupt. Maybe it’s a law reagarding many situations. Their announcement dosen’t state anything about going bankrupt.
If that’s the case, do we still run nodes? Do we still get payed?
A post was made in announcements An open letter to the Storj token community: the restructuring, the network, and a proposed path to shared ownership - #2
But they are now court supervised and are undergoing a formalized legal process, so the question is if they have the money and if they still can spend it to pay thousands of SNOs worldwide with an arbitrary token.
Yes and it states:
@Dominick
Are SNOs required to enter into any kind of formal or legal process like contacting Storj or the courts to receive the payouts of the current month and will there be any delays expected in paying out SNOs for the current month or will the process be without foreseeable delays and as conducted like in the past?
This is hopefully a chance for them to renegotiate all their old debts: and may have been part of Inveniams plans all along. Buy company: use Chapter 11 to remove the dead wood: profit!
As a large SNO, I’d like a straight answer to two questions that the open letter haven’t addressed:
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Will ongoing node payouts (post July 26) continue on the normal schedule, or should we expect delays while court approvals are pending? Do we as SNO have to actively do anything to receive our payment?
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Are our current held amounts (funds withheld pending graceful exit) at risk of being treated as pre-petition unsecured claims, or are they protected/ring-fenced from the Chapter 11 process? And is there anything we need to actively do right now to protect that balance, or does normal operation keep it safe?
SNOs are the infrastructure the network runs on —im not asking for legal guarantees, just clarity on what we should expect and whether any action is required on our end. A direct answer from Storj (not just “subject to court approval” boilerplate) would go a long way here.
Storj Labs filed in a federal bankruptcy court in West Virginia. The case number is 5:26-bk-00512.
Chapter 11 is not a shutdown. It lets a company keep trading while a court helps it clear its debts.
The company plans to offer holders equity in the new Storj. Equity means part-ownership. The rules for who qualifies have not been written yet.
Those rules will matter. About 143.8 million STORJ trade freely out of 425 million in total. Two-thirds of the supply sits elsewhere.
The Warning Sign From October
Inveniam Capital Partners announced it was buying Storj on Oct. 22, 2025.
Storj says it will share court dates as they land.
Is there an ELI5?
Why? I keep my nodes running until the month comes when I don’t get paid.
My HDDs will never fill. Even if storj survives customers will leave and it will need years to regain trust.
That article says:
“That was Kaloyan Raev, Storj’s director of software engineering. He also signed the letter to token holders, not Chief Executive Colby Winegar.”.
Didn’t Colby leave months ago?
Lol. Of course. Since Storj hasn’t made an official announcement, people are still under the impression that Colby Winegar is the CEO.
I don’t think there are many customers left after they raised and lowered prices from
5 to 50$. Clearly a sign to me that they don’t really know what they’re doing to handle the situation
Interesting to see how this will go
I’m with Donald: every month they send me a payout I’ll run another month. Same deal every month for years now. Simple.
Plenty of great customers. Reverting to $5 from $50 was new the leadership team cleaning up after the old.