Crypto ATM Operator Coin Cloud Goes Bankrupt, Seeks Cash or Sale

Coin Cloud, an operator of automatic teller kiosks for cryptocurrency, filed for bankruptcy in Nevada on Tuesday with plans to raise fresh capital or sell itself.

The company has more than $150 million of debt, including more than $100 million owed to insolvent crypto lender Genesis Global Holdco LLC, according to court papers. Coin Cloud listed assets of no more than $50 million in its bankruptcy petition.

The Chapter 11 filing allows Coin Cloud to keep operating while it works on a way to repay creditors.

Coin Cloud operated some 4,800 crypto ATMs in the US and ...