Connecticut Suspends Bitcoin Depot as 2026 Revenue Outlook Worsens

Bitcoin Depot is a major cryptocurrency ATM operator in North America, with 9,276 machines in operation as of September 30, 2025, and relies primarily on transaction fees. Connecticut requires money transmitters to maintain at least $1 million in tangible net worth and imposes limits on fees and daily transaction amounts. The suspension therefore directly threatens the company’s operations and ability to service its debt.

Connecticut Banking Commissioner Jorge L. Perez ordered Bitcoin Depot’s license suspended on March 9, 2026, saying the company failed to meet the $1 million net-worth threshold in 2022 and 2023. The company was also accused of charging fees above 15% and failing to issue refunds as required by law. Bitcoin Depot expects revenue from its core business to decline by a further 30%–40% in 2026, significantly worsening its financial outlook.