North America's largest Bitcoin ATM operator has filed for Chapter 11 bankruptcy protection in Texas. The company plans to wind down operations and sell assets amid ongoing regulatory challenges.
Bitcoin Depot cited a hostile regulatory environment and an unsustainable business model in its filing. The operator of Bitcoin ATMs across the continent said pressure from regulators had made its core business unviable.
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Exodus Movement sold more than 1,000 bitcoin in the first quarter to raise cash for its payments acquisitions. The company reported a wider net loss as revenue declined sharply.
Bitcoin Depot has flagged severe doubts about its ability to continue as a going concern in a recent filing. The company cited more than $20 million in legal judgments from late 2025 and ongoing litigation that is hurting revenue.
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A New York lawsuit seeking ownership of dormant Bitcoin addresses has run into new evidence from the blockchain itself. Fifty-two of the targeted wallets moved more than $2.48 billion in BTC after the case began.
Japanese financial conglomerate SBI Holdings has submitted a letter of intent to acquire shares in cryptocurrency exchange Bitbank, aiming to make it a consolidated subsidiary. The move supports SBI's expansion in digital assets amid Japan's planned regulatory changes for cryptocurrencies. The deal is subject to due diligence, negotiations, and approvals.
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Bitcoin dropped below $67,000 on Tuesday, marking its lowest level since April. The decline triggered nearly $400 million in liquidations within an hour and over $1 billion over 24 hours. Analysts linked the selloff to capital shifting toward AI-related equities and heavy outflows from Bitcoin ETFs.