Bitcoin Depot Files for Bankruptcy, Taking Thousands of Crypto ATMs Offline

16 articles · Updated · Bloomberg · May 18

Bitcoin Depot, once North America’s largest crypto ATM operator, filed for bankruptcy on Monday and said it will sell assets and wind down operations.
CEO Alex Holmes called the business model “unsustainable,” underscoring years of financial strain in a crypto ATM market that has been shrinking.
Thousands of the company’s BTMs — machines that let users buy, sell, send and receive Bitcoin — have already been taken offline.
The collapse marks another setback for a niche corner of the digital-asset industry whose decline had been building for several years.

Bitcoin Depot is bankrupt, but will this actually curb the multi-billion dollar crypto scam industry it helped enable?

As the top crypto ATM firm collapses, why is the global market still projected for explosive 50% annual growth?

With standalone crypto ATMs failing, can software integration into traditional bank ATMs succeed where dedicated kiosks could not?