ChainCatcher news, Bitcoin Depot, which has over 7,400 Bitcoin ATMs in the United States, announced that it will seek to allocate part of its cash reserves to Bitcoin. The company explained that this strategy aligns it with other forward-thinking institutions that use Bitcoin as a hedge against inflation and aim to benefit from its assets in the future.Bitcoin Depot stated that its Bitcoin purchases will be "opportunistic in nature" and will not include funds necessary for its operations. CEO Brandon Mintz mentioned that this initiative demonstrates the company's "long-standing belief that Bitcoin is an important financial asset and store of value."The company did not disclose how much of its cash reserves it intends to convert into Bitcoin, nor did it reveal whether it has set any proportional targets for this task.

ChainCatcher news, according to CoinDesk, cryptocurrency ATM operator Bitcoin Depot has gone public on Nasdaq through a merger with SPAC company GSR II Meteora, trading under the ticker "BTM". The BTM stock price rose to $6.60 in pre-market trading, before falling back to $3.39.According to data from Coin ATM Radar, Bitcoin Depot operates over 6,000 of these machines, accounting for 20% of the U.S. ATM market share and 17.6% of the global market share. (source link)

ChainCatcher news, cryptocurrency ATM operator Coin Cloud has filed for bankruptcy in the U.S. Bankruptcy Court for Nevada, with estimated liabilities ranging from $100 million to $500 million and estimated assets between $50 million and $100 million. The number of creditors exceeds 10,000, with Coin Cloud's largest creditor being Genesis Global Trading, which has provided over $100 million in unsecured loans. (source link)

ChainCatcher news, according to Bloomberg, cryptocurrency ATM operator Coin Cloud has been seeking additional funding support from Genesis. According to informed sources, Genesis has so far provided Coin Cloud with approximately $100 million in unsecured loans.To further support Coin Cloud, the two parties have recently had discussions, and Genesis is also considering making an equity investment in it. It is reported that the Las Vegas-based cryptocurrency ATM operator Coin Cloud has over 4,000 devices in the United States and Brazil. (Source link)