CryptoSlate
Bitcoin Depot, operator of more than 9,000 kiosks globally, filed for Chapter 11 bankruptcy on May 18 in the Southern District of Texas and announced an immediate wind-down — its entire network went offline the same day. A May 12 SEC disclosure had already flagged the damage: Q1 revenue down 49.2% year over year, gross profit collapsed 85.5%, a $9.5 million net loss against $12.2 million in profit a year earlier, and more than $20 million in accrued legal judgments sitting on the balance sheet.
The company blamed state and municipal restrictions, lower transaction limits, enhanced KYC requirements, and litigation. That list is also the autopsy: compliance measures that made kiosks safer simultaneously stripped out the economics that made high fees defensible. FBI data for 2025 recorded 13,460 crypto kiosk complaints totalling $389 million in reported losses — a 58% jump — with adults…
TheBlock
WuBlockchain
Crypto News