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'The company’s current business model is unsustainable': CEO of Bitcoin ATM operator blames increasing…
Bitcoin Depot, once North America's largest bitcoin ATM operator, has filed for Chapter 11 bankruptcy due to an unsustainable business model and declining revenue. The company's network of over 9,000 machines is offline. This comes amidst increased regulatory scrutiny and lawsuits, such as one filed by the Iowa Attorney General, alleging failure to protect users from crypto scams and excessive fees.
