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Bitcoin Depot files for Chapter 11 bankruptcy, shutting down all bitcoin ATMs amid stricter regulations and financial losses.

Market News
18 May 2026
Coinpaper
View Source
Bearish
pluang ai news

Bitcoin Depot, once North America's largest bitcoin ATM operator, filed for Chapter 11 bankruptcy due to stricter state regulations, licensing restrictions, and enforcement actions. The company has taken all its bitcoin ATMs offline and is winding down operations under court supervision. Financial struggles included a $3.7 million crypto wallet hack, delayed earnings, and a 49.2% revenue drop, leading to a $9.5 million net loss in Q1 2026. Bitcoin Depot plans to sell assets and settle obligations through bankruptcy proceedings, marking the end of its global crypto ATM network.

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