Bitcoin Bancorp snaps up thousands of defunct Bitcoin Depot ATMs for $620,000. Updated 56 min ago Published 6 hrs ago * Bitcoin Bancorp bought 2,547 cryptocurrency ATMs from bankrupt Bitcoin Depot for $620,750, a fraction of their previous value. The bankruptcy of the cryptocurrency ATM sector's largest provider has opened the door for smaller firms to snap up their defunct kiosks for pennies on the dollar. Bitcoin Depot (BTM) filed for Chapter 11 bankruptcy protection in May following a 49% collapse in first-quarter revenue compared to a year earlier and a swing from $12.2 million in profit to a $9.5 million loss in the same period. Just over a quarter of Bitcoin Depot's more than 9,200 kiosks have been sold for less than $1 million, court records show. The winner of the bidding process for Bitcoin Depot's former locations was Bitcoin Bancorp (BCBC), a publicly traded digital asset infrastructure company, formerly known as Bullet Blockchain. The Las Vegas-headquartered company won the bid to take over 2,547 ATMs for a total of $620,750. Bitcoin Depot valued its entire property and equipment, 98% of which was its kiosks, at more than $26 million in the the fourth quarter of 2025, the company's last complete earnings report before bankruptcy. Bitcoin Bancorp, whose shares trade at $0.04 on OTC Markets, is a small company compared to its predecessor, with a market cap of around $18.5 million, a fraction of Bitcoin Depot's peak of around $400 million while it was listed on the Nasdaq. The firm also bought the associated floorspace agreements, intellectual property, trademarks, patents and the BitcoinDepot.com domain name for another $110,500. "Final closings remain subject to customary closing conditions," Bitcoin Bancorp said on Wednesday. "The company currently expects the remaining closings to be completed during the upcoming quarter." Crypto ATMs crackdown. Crypto ATMs are machines that accept cash as payment for cryptocurrency. They are a frequent tool for scammers who build relationships with their victims online before inventing an emergency for which they need cash urgently. Crypto ATM fraud hit $389 million in losses in 2025, 58% higher than the year before. The U.K.'s Financial Conduct Authority declared crypto ATMs illegal several years ago, while regulators in countries like Australia and Canada have also clamped down on them more recently. The vast majority of Bitcoin Depot's locations were in the U.S. where ATMs are legal in most states, but the company still blamed its decline on sterner regulatory measures, which CEO Alex Holmes said had made its business model "unsustainable." "States have imposed increasingly stringent compliance obligations, including new transaction limits, and in some jurisdictions, outright restrictions or bans on BTM operations; and operators have faced increasing litigation and regulatory enforcement," Holmes said when Bitcoin Depot filed for bankruptcy. Crypto ATMs may be seen as lower hanging fruit for regulatory enforcement due to their physical nature. An ATM in a gas station or convenience store is easier to target than an exchange or blockchain protocol which exists entirely digitally. Observers may have concluded that this regulatory landscape paired with the demise of the sector's most prominent company would spell the death knell for crypto ATMs. The sale of over 2,500 of Bitcoin Depot's locations though suggests there are plenty of smaller firms to keep regulators and law enforcement agencies busy for the time being. There were just under 39,000 crypto ATMs operational worldwide as of March this year, with 77.7% of them in the U.S, according to data tracked by Companies History. It is also a consolidated sector in terms of providers, with the 10 largest operators accounting for a 78.2% share of the total locations. Tokenized equities lead RWA inflows as the market recovers; Binance's bStocks hit ~$118.5M in two months, now #2 issuer and ~90% of on-chain equity DEX volume. Aug 27, 2026 Why it matters: Tokenized equities lead RWA inflows as the market recovers; Binance's bStocks hit ~$118.5M in two months, now #2 issuer and ~90% of on-chain equity DEX volume.

Creditors are set to meet on Aug. 28. Poolin's creditors are scheduled to meet on Aug. 28 at 9 a.m. ET through a remote Section 341 meeting. The date remains upcoming and has not yet taken place, according to the amended Chapter 11 notice filed on Aug. 5. Creditors seeking to file proofs of claim can send originally executed forms to the Poolin Claims Processing Center operated by KCC dba Verita Global in El Segundo, California. The case page states that claims may be submitted through U.S. mail or another hand-delivery system, while fax and other electronic delivery methods are not accepted. A general deadline for filing proofs of claim had not yet been established in the amended bankruptcy notice. Archer & Greiner, P.C. is representing the debtors in the proceedings. Stephen M. Packman, Alexander J. Andrews, Doug Leney and Natasha Songonuga are listed among the attorneys handling the cases, while the court has also approved the retention of DuFrayne LLC as crisis manager and Michael DuFrayne as chief restructuring officer. The bankruptcy court has also authorized Verita Global to serve as administrative adviser. Additional restructuring professionals include Oon & Bazul LLC as Singapore restructuring and insolvency counsel and McCarn, Weir & Sherwood P.C. for oil, gas and mineral matters. Poolin previously faced a wallet liquidity crisis. Poolin's financial problems became public several years before the Chapter 11 filing. In September 2022, crypto.news reported that Poolin suspended withdrawals from PoolinWallet after the company faced liquidity problems and a rise in withdrawal requests. The company subsequently said it would issue six IOU tokens representing users' BTC, ETH, USDT, LTC, ZEC and DOGE balances at a 1:1 ratio. Poolin said at the time that it was considering several ways to address the liquidity shortage, including seeking new investment, pursuing debt-to-equity transactions and selling assets. Another report from September 2022 said Poolin had stopped withdrawals, flash trades and internal transfers through PoolinWallet while leaving routine mining operations and direct mining-pool payouts unaffected. The company also suspended certain swap services as it tried to preserve liquidity. Financial pressure has remained a problem across parts of the Bitcoin mining industry in 2026. A July analysis found that public miners sold Bitcoin at a record pace during the first quarter, with more than 32,000 BTC sold as hashprice fell to post-halving lows. The same report placed hashprice in the high-$20 range per petahash per day by mid-2026, below the roughly $35 level cited as the breakeven point for older mining machines. Bankruptcy proceedings have also continued to surface elsewhere in the crypto infrastructure sector. In May, Nasdaq-listed Bitcoin Depot filed for Chapter 11 after taking its crypto ATM network offline, with the company citing regulatory pressure and financial losses as it moved toward a shutdown. Poolin's bankruptcy docket has continued to develop since its July petition. On Aug. 17, the court entered the order approving the bidding procedures for substantially all of the debtors' assets, allowing the companies to proceed toward the September bid deadline, possible auction, and sale hearing.

MA residents have lost $7M to crypto ATM scams. Bill would ban them. USA TODAY NETWORK - New England July 25, 2026, 5:08 a.m. ET * In the last year alone, Massachusetts residents have lost nearly $7 million to crypto ATM scams, according to AARP. * MA Senate passed legislation to ban crypto ATM kiosks in Massachusetts as part of their economic development bill. * Virtual currency kiosks, or crypto ATMs, are physical kiosks that allow you to buy and sell cryptocurrencies like Bitcoin using cash. In 2022, a Maynard woman almost lost $10,000 to Bitcoin scammers through a crypto ATM. In 2025, police saved a woman from losing $20,000 in another Bitcoin ATM scam in Lakeville. In these cases, the victims had been contacted by scammers posing as authority figures who invented emergencies and told them to immediately send money through a crypto ATM. But once the money is transferred in one of these machines, the chances of getting it back are near zero. In the past five years, these scams have skyrocketed, according to a press release from the office of Sen. John Cronin, D-Fitchburg. In the last year alone, Massachusetts residents have lost nearly $7 million to crypto ATM scams, according to AARP. Some seniors have lost their entire life savings. Now, lawmakers are trying to prevent future victims by cracking down on the machines themselves. Early on July 24, the MA Senate passed legislation to ban crypto ATM kiosks in Massachusetts as part of its economic development bill. "I was proud to pass the amendment that bans crypto ATM kiosks, but more importantly that saves people in the commonwealth from future predatory scams," Cronin, who filed the amendment, said in a statement. "This amendment is a strong consumer protection measure that recognizes the unique dangers posed by these machines. It recognizes that regulation is not enough when the risk is the machine itself. And it recognizes that the commonwealth has a responsibility to act before more residents lose their savings, their homes and their financial security." Bill seeks to ban crypto ATMs. The amendment bans virtual currency kiosks from operating in Massachusetts. Virtual currency kiosks, or crypto ATMs, are physical kiosks that convert cash into cryptocurrencies like Bitcoin. While they look like traditional ATMs and are similarly often located in convenience stores, they do not connect to a bank account and instead link directly to a digital wallet to transfer digital assets, according to Cronin's office. The amendment gives the attorney general the authority to bring a civil action against anyone who operates a crypto ATM in the state. What's next? The crypto ATM ban was not included in the House's version of the economic development bill, so the two chambers will have to come to an agreement in conference committees before it can go to Gov. Maura Healey's desk. Four states, including Vermont, have already passed bans on crypto ATMs, as have a few towns in Massachusetts. Massachusetts Attorney General Andrea Campbell issued a statement supporting the legislation, saying it will "strengthen consumer safeguards and protect residents from harm." Campbell has already worked to crack down on crypto ATMs in the state. In February, her office sued cryptocurrency kiosk operator Bitcoin Depot for facilitating scams, causing them to close all their locations in Massachusetts.