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Crypto

Storj Labs files for bankruptcy protection, seeks way for token holders to take equity

Storj Labs, a decentralised storage provider, has filed for Chapter 11 bankruptcy protection in the United States. It said it will maintain network operations and customer service during restructuring and is considering a plan to allow STORJ token holders to participate in equity of the reorganised company. The firm said most of its debt predates its current strategy and is too large to resolve through growth alone.

Crypto

Flare CEO says major XRPFi expansion over next six months to attract 5 billion XRP

Flare will push a major expansion of XRPFi, its XRP-based decentralised finance ecosystem, over the next six months, aiming to make XRP usable as a DeFi asset rather than only for payments. CEO Hugo Philion said Flare will become a fully programmable layer for the XRP Ledger and roll out upgrades starting in about two weeks. FXRP issuance has exceeded 150 million, and he projected up to 5 billion XRP could flow into Flare, though analysts see security checks and stablecoin liquidity as key hurdles.

Crypto

Michael Saylor says \'it needs another color\' as Strategy hints at resuming bitcoin buying

Strategy has not added to its bitcoin holdings for 4 straight weeks, but Chairman Michael Saylor posted a chart of the company’s purchase history and wrote, “It needs another color,” drawing market attention. The firm has disclosed no additional buys in 4 SEC filings since late June. Its latest purchase was 520 BTC in mid-June. Recent filings also highlighted fundraising through MSTR share sales and a larger dollar reserve.