Bitcoin ATM Operator CoinFlip Wins Tax Subsidies From Illinois

Illinois granted $1.68 million in tax subsidies to cryptocurrency ATM operator CoinFlip, which committed to creating 30 new jobs and keeping at least 138 existing positions in Chicago over the next decade.

Gov. J.B. Pritzker (D) and CoinFlip executives announced the launch of a 44,000-square-foot headquarters in downtown Chicago on Tuesday to accommodate the fintech company’s rapid growth in the state. CoinFlip qualified for benefits under the Economic Development for a Growing Economy tax credit program, valued at $1.68 million over 10 years, based on a minimum capital investment of $17 million, an ...