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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The Texas Department of Banking has issued a consent order against Chicago-based cryptocurrency kiosk operator CoinFlip for conducting unlicensed money transmission. The company must pay over $40,000 and halt transactions until licensed. This follows prior violations and a merger-related issue.
Bitcoin treasury firm Nakamoto saw its stock reach a new all-time low on Thursday after reporting a $239 million net loss for the first quarter.
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Following a mid-week rally above $68,000, Bitcoin retreated toward $70,000 by early March 6, 2026, erasing $110 billion in market capitalization amid worsening Iran conflict, rising oil prices, and a strengthening U.S. dollar. The pullback occurs despite ongoing institutional adoption, with $2.6 billion in Bitcoin options set to expire, heightening volatility risks.