people · May 18, 2026
Bitcoin Depot Files for Chapter 11 Bankruptcy in Texas Court
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Bitcoin Depot initiated a voluntary Chapter 11 process on May 18, 2026, in the U.S. Bankruptcy Court for the Southern District of Texas. The company plans to wind down operations and sell assets while its network of Bitcoin ATMs has been taken offline. CEO Alex Holmes stated the current business model is no longer viable due to regulatory changes. Canadian entities are included in the U.S. proceedings with plans for separate restructuring in Canada.
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