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.
Bitcoin Depot reported accruing over $20 million in legal judgments during the fourth quarter of 2025. It pointed to ongoing litigation matters that have reduced revenue, which has fallen sharply since the prior year.
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Coinbase shares recovered 10 percent from session lows on Friday following a weaker-than-expected first-quarter report and a multi-hour trading outage tied to Amazon Web Services failures. Bitcoin held above $80,000 while several altcoins posted gains of 5 to 12 percent.
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.
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Metaplanet posted higher operating profit for the first quarter, supported by income from bitcoin holdings. The company nevertheless recorded a $728 million loss from valuation markdowns after bitcoin prices fell sharply.
HIVE Digital Technologies posted annual revenue of $297.8 million, a record for the Bitcoin miner. The company also mined nearly 2,900 Bitcoin last year while its treasury holdings fell to 150 Bitcoin.
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A wave of cryptocurrency exchange initial public offerings in 2025 highlighted the sector's maturation, but recent setbacks reveal heavy dependence on Bitcoin's price movements. Gemini's post-IPO struggles and Kraken's frozen listing underscore vulnerabilities to market cycles. Exchanges must prove revenue stability beyond Bitcoin rallies to sustain investor interest.