‘The company’s current business model is unsustainable’: CEO of Bitcoin ATM operator blames increasing regulation for bankruptcy
Founded in 2016, Bitcoin Depot was once North America’s largest bitcoin ATM operator. Now, the Georgia-based company has voluntarily filed for Chapter 11 bankruptcy. This raises many questions, from ‘how did we get here?’ to ‘and what exactly does an ATM for cryptocurrency do?’ Putting it simply, whereas a traditional ATM dispenses physical currency, a…