Decentralized storage firm Storj Labs filed for Chapter 11 bankruptcy protection on Sunday in the US Bankruptcy Court for the Northern District of West Virginia while BitMart disclosed an orderly wind-down of its exchange and Russia’s largest bank outlined new cryptocurrency trading infrastructure. Storj intends to keep its network and customer services operating under court supervision as it restructures legacy liabilities and examines a pathway for STORJ tokenholders to receive equity in the reorganized company. Parent firm Inveniam will continue to support the business.

The liabilities largely predate Storj’s present strategy and exceed what growth alone can address. Network operations remain normal and the token’s utility is unchanged. STORJ traded near 0.073 dollars with no material price movement after the filing. Any equity mechanism for tokenholders must observe bankruptcy priorities and obtain court approval. Eligibility rules and allocation size have not been detailed.

BitMart will end all trading services on Aug. 26 and cease operations entirely on Jan. 31, 2027. The exchange has already halted new registrations and deposits. Futures positions are restricted to reduce-only mode and spot markets no longer accept new orders. The decision follows a review of operating conditions, market conditions and strategic direction. BitMart joins other platforms that have recently announced closures.

Sberbank plans to establish cryptocurrency trading infrastructure, including a digital depository, by Dec. 1. The depository will record client ownership of digital assets and process most transactions off the main blockchain while supporting active wallets for deposits, withdrawals and transfers. The move aligns with Russia’s progress toward a comprehensive regulatory framework for digital assets after lawmakers completed final readings on related legislation earlier this month.