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Bitcoin Depot, North America's Largest Crypto ATM Operator, Files for Chapter 11 Bankruptcy on May 18

GateNews

Enforcement Actions Exchange Risk

2026-05-19 01:02:36

BTC-0.23%

According to Bloomberg, Bitcoin Depot Inc., a US crypto ATM operator once ranked as North America’s largest, filed for Chapter 11 bankruptcy protection in the Southern District of Texas on May 18 after taking its network of thousands of kiosks offline.

The company attributed the collapse to an unsustainable business model, increasing litigation, and regulatory enforcement. Founded in 2016, Bitcoin Depot faced mounting pressure following the 2022 FTX collapse, tighter rules on cash-based crypto ATMs, and state bans over illicit activity concerns. Its Canadian entities are included in the US court process.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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