The Crypto Roundup: 04 July 2023 | CryptoCompare.com

Bitcoin Depot, a U.S. Bitcoin automated teller machine (ATM) company, has debuted on the Nasdaq stock exchange, making it the first Bitcoin ATM company to go public. The firm, which operates over 6,000 Bitcoin kiosks across North America, merged with a special purpose acquisition company (SPAC) to list on the Nasdaq.

Bitcoin Depot, trading under the symbol BTM, had a share price of $3.61 at the time of writing, according to Nasdaq data. Earlier today, the price reached a peak of $6.66, showing significant volatility.

In a press release, the company’s founder and CEO Brandon Mintz said the firm is “well positioned with the largest market share in North America” and said the additional capital will help it support “numerous growth opportunities.”

Based in Atlanta, Georgia, Bitcoin Depot claims to be the largest Bitcoin ATM provider in North America, allowing users to buy and sell cryptocurrencies through its machines without having to use an exchange.

Bitcoin ATMs used to be anonymous, but now they are regulated by the Financial Crimes Enforcement Network (FinCEN) in the U.S. after the Internal Revenue Service (IRS) warned that they could be used for money laundering purposes.

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• Source: https://www.cryptocompare.com/email-updates/daily/2023/jul/04/