Bitcoin Depots bankruptcy is reshaping the crypto ATM industry, allowing smaller competitors to acquire thousands of kiosks at deeply discounted prices as regulatory pressure weighs on the sector. Bitcoin Depot filed for Chapter 11 bankruptcy protection in May after first-quarter revenue plunged 49% year over year. The company also swung from a $12.2 million profit to a $9.5 million loss during the period. Bitcoin Bancorp, formerly known as Bullet Blockchain, emerged as the winning bidder for a significant portion of Bitcoin Depots assets. The Las Vegas-based digital asset infrastructure… Read more
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