Lookonchain APP

App Store
Feeds Articles

Bitcoin Depot Stock Price Plunges 71% in Pre-market Trading, Announces Bankruptcy Filing Today

52 minutes ago

On May 18, Bitcoin Depot—one of the largest Bitcoin ATM operators in the U.S.—announced it has filed for Chapter 11 bankruptcy protection in the Southern District of Texas, with plans to sell off its assets and wind down operations gradually. Bitcoin Depot noted that while the firm has beefed up anti-fraud measures in recent years—such as tightening identity verification protocols and lowering transaction limits—escalating regulatory pressure and compliance costs have made its business model "unsustainable." Once a top crypto ATM operator across North America, Bitcoin Depot operated more than 9,000 Bitcoin ATMs as of August 2025. Now, the company has shut down its entire ATM network and launched a court-supervised asset sale and liquidation process. In response to the bankruptcy news, Bitcoin Depot’s (NASDAQ: BTM) pre-market stock price plunged over 71%. Since its debut on the Nasdaq in 2023, the stock has seen a cumulative decline of nearly 95%. Industry insiders point out that with U.S. and Canadian regulators continuing to tighten oversight of cash-to-cryptocurrency businesses—including stricter consumer protection requirements, enhanced anti-fraud responsibilities, and tighter transaction monitoring obligations—the entire cryptocurrency ATM industry is facing systemic profitability pressure.
Add to Favorites Download image Share x Copy link
Relevant content

AI Edge Inference Chip Company SiMa.ai is Raising Funds at a $1.4 Billion Valuation

May 18: AI edge inference chip startup SiMa.ai is in the midst of a new funding round that values the company at around $1.4 billion, according to The Information. The firm focuses on developing edge AI inference chips, with its products primarily aimed at use cases spanning robotics, industrial automation, automotive, and embedded AI scenarios.

8 minutes ago

HIVE Stock Price Surges Over 35% at Market Open, Plans to Build 320MW AI 'Super Factory' in Toronto

May 18th – HIVE Digital, a Bitcoin mining company pivoting to an AI infrastructure business, announced plans to build a 320-megawatt AI hub in the Toronto area, targeting one of Canada’s largest sovereign AI "super factories." Following the announcement, HIVE’s stock price surged more than 35% at Monday’s market opening. The project is being led by its high-performance computing subsidiary, BUZZ, and once fully operational, it will accommodate over 100,000 GPUs, with work set to launch in the second half of 2027. Total investment for the initiative is estimated at about CAD 3.5 billion (roughly $2.55 billion USD), funds allocated to constructing large-scale data centers for training and running AI models. In recent years, HIVE has steadily shifted its business focus from traditional Bitcoin mining to AI and high-performance computing infrastructure. The firm has previously expanded its GPU clusters and AI data center operations in Paraguay and Sweden.

8 minutes ago

Pump.fun deposited 82,703 SOL to a CEX, worth $7 million

On May 18th, data from OnchainLens’ monitoring indicates that Pump.fun deposited 82,703 SOL into the Kraken platform, worth roughly $7 million.

8 minutes ago

Trump's Approval Rating Falls to New Low in Second Term, Economy and Iran Conflict Cited as Major Drag

On May 18, a new poll from The New York Times finds that U.S. President Donald Trump’s approval rating has sunk to a fresh low of 37% for his second term, with 59% of those surveyed voicing disapproval. A majority of voters rated Trump poorly on his handling of the economy, inflation, the cost of living, and the U.S. conflict with Iran. The survey also shows that 49% of respondents view the U.S. economic situation as “poor” — an 11-percentage-point increase from January of this year — and just 28% approve of Trump’s handling of the cost of living issue. Several other polls have similarly indicated that since late February, following the U.S. military strike on Iran, Trump’s approval rating has stayed below 40%. Rising oil prices and the economic pressure driven by the war continue to weaken both market and public confidence, data from the surveys note.

8 minutes ago

Iranian Media: Iran Says Its Ships Have Broken US Blockade

On May 18, Iran’s Fars News Agency announced that Iran has stated its ships have bypassed the U.S. blockade.

8 minutes ago

SpaceX has officially launched its "1-for-5" stock split plan

On May 18th, SpaceX officially updated its investors on a 1-for-5 stock split plan, a move that will lower the per-share IPO price as the company prepares to go public. People familiar with the matter said the aerospace firm has emailed all its shareholders about the split. After the stock split, each share’s fair market value will drop from $526.59 to roughly $105.32, per the sources. The split process is set to commence during the week of May 18th and wrap up by May 22nd. Earlier reports from last Friday indicated SpaceX is on track to submit its long-awaited IPO application as early as this Wednesday.

8 minutes ago

Hot feeds

A trader profits $448K by monitoring #Binance's new listings!

2024.12.13 17:37:29

Last week, funds have flowed into #Bitcoin, #Ethereum, and #Hyperliquid.

2024.12.16 14:48:36

A $PEPE whale that had been dormant for 600 days transferred all 2.1T $PEPE($52M) to a new address.

2024.12.14 10:35:27

When Elon Musk tweeted about Moltbook, the meme coin MOLT experienced a short-term 30% price surge, hitting a new all-time high of $114 million.

2026.01.31 18:37:29

A smart #AI coin trader made $17.6M on $GOAT, $ai16z, $Fartcoin,$arc.

2025.01.05 16:05:18

A sniper earned 2,277 $ETH ($8.3M) trading $SHIRO within 18 hours!

2024.12.03 23:09:08

 More

Hot Articles

Follow us

X

Follow

Telegram

Join