 |
Joele Frank is working the media for Atlanta’s Bitcoin Depot as the country’s largest operator of bitcoin ATMs (BTMs) files for Chapter 11 to begin the wind-down of its business.
Bitcoin Depot CEO Alex Holmes blamed the shifting regulatory environment among the reasons for the company’s financial downfall.
He said “states have imposed increasingly stringent compliance obligations, including new transaction limits, and in some jurisdictions, outright restrictions or bans on BTM operations; and operators have faced increasing litigation and regulatory enforcement.”
Holmes said Bitcoin Depot examined various options before deciding to initiate the court-supervised process to facilitate an orderly wind-down of operations and a sale of the Company’s assets.
The Company’s network of BTMs has been taken offline.
Launched in 2016, Bitcoin Depot is in 47 states and operates more than 9K kiosks globally.
Joele Frank, Wilkinson Brimmer Katcher’s Michael Freitag and Aaron Palash provide strategic communications services to Bitcoin Depot.
ICR Inc. works for LongRange Capital as the Stamford private equity firm acquires Pizza Hut from Yum Brands for $1.5B.
FGS Global handles Fox Corp. as it agrees to acquire The Roku Channel, which relies on Joele Frank, in a deal valued at $22B.
Caterpillar’s Rob Rengel will join ATI Inc. on June 22 as VP-investor relations, succeeding the retiring David Weston.
Hut 8, energy infrastructure platform, has named NextEra Energy's Mark Eidelman head of IR and SVP of strategic finance.
Teneo handles easyJet as Minneapolis investment firm Castlelake mulls a possible takeover of the British budget airline.
