Bitcoin Depot Files for Chapter 11 Protection - Tekedia

Bitcoin Depot, a US crypto ATM operator, has filed for Chapter 11 bankruptcy protection.

The company says it may restructure or wind down as demand for cash-based crypto kiosks falls.

Rising operating costs and regulatory scrutiny are pressuring the business.

The filing highlights growing weakness in the physical crypto on-ramp market.

Users are increasingly turning to mobile apps and exchanges like Coinbase, Kraken, and Cash App.