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Closing Down
Goodbyes and going-out-of-business.
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Cascade Shuts Down After Five Years, Urges Users to Claim Funds
14+ hour, 23+ min ago (192+ words) Cascade has shut down after five years, urging users to withdraw any remaining funds from its trading platform. The former Perennial announced the closure and directed users to Equilibria’s claim portal for outstanding balances. The move ends Cascade’s 24/7 trading service…...
Post-Bankruptcy Small Rival Wins $620,000 Bid for 2,547 Bitcoin ATMs
2+ day, 15+ hour ago (249+ words) Bitcoin Bancorp has won the bid to acquire 2,547 ATMs from the bankrupt Bitcoin Depot for $620,750. The bankruptcy of the Bitcoin ATM industry’s largest provider has paved the way for thousands of the company’s kiosks to be transferred to a much…...
Crypto ATM Leader's Collapse: 2,500 Machines Sold for Just ₩800 Million — BigGo Finance
2+ day, 12+ hour ago (227+ words) At the time, CEO Alex Holmes said: "States imposed increasingly stringent compliance obligations, including new transaction limits, and some jurisdictions went so far as to enact outright bans on BTM (Bitcoin Teller Machine) operations." He added that "operators faced mounting…...
Bitcoin Bancorp wins bid for 2,446 Bitcoin Depot ATMs in bankruptcy
2+ day, 18+ hour ago (428+ words) The deal scoops up roughly 2,500 kiosks from the bankruptcy estate of what was once North America's largest Bitcoin ATM operator. Bitcoin Bancorp (OTC: BCBC) just picked up approximately 2,500 Bitcoin ATMs for about $620,750. That works out to roughly $250 per machine, or…...
Bitcoin Bancorp Buys 2,500 ATMs From Bankrupt Bitcoin Depot for $620,750
2+ day, 18+ hour ago (141+ words) Digital-asset infrastructure firm **Bitcoin Bancorp** acquired about 2,500 cryptocurrency ATMs from bankrupt **Bitcoin Depot** for $620,750. CoinDesk reported that the deal was priced at about **$243** per ATM. **Bitcoin Depot** filed for bankruptcy protection after first-quarter revenue fell **49%** from a year earlier and…...
A Coinbase-backed crypto bridge is shutting down after its business model stopped working
6+ day, 58+ min ago (491+ words) Router Protocol will close by Sept. 30 after failing to find a buyer, licensing deal or sustainable path forward. Router Protocol will shut down all remaining operations by Sept. 30 after failing to build a sustainable bridge business. The cross-chain infrastructure project…...
US Eagle Federal Credit Union shuts cannabis banking arm citing increased competition
2+ week, 3+ day ago (308+ words) U.S. Eagle Federal Credit Union, one of New Mexico's largest credit unions, is shutting down its cannabis banking arm, the Aery Group, effective November 1, citing increased competition and a consolidating client base. The Albuquerque-based institution launched the Aery Group in 2019, making…...
Crypto Exchange Insolvency: Segregation or Estate?
3+ week, 2+ day ago (1727+ words) If a custodian goes under, neither the deposit guarantee nor investor compensation covers crypto-assets. Whether the holdings are still yours is decided by the right of segregation under Section 47 of the German Insolvency Code, and you can read up on…...
Crypto Platform Anchorage Digital Lays Off 20% of Staff
3+ week, 3+ day ago (354+ words) Citing economic, market and regulatory "headwinds" the federally chartered U.S. crypto platform laid off 75 employees. Listen to the CoinMarketRecap podcast on Apple Podcasts, Spotify and Google Podcasts The first federally chartered crypto platform announced that it would lay off 20% of its…...