TechFlow News, March 25: According to Decrypt, Bitcoin ATM operator Bitcoin Depot announced that CEO Scott Buchanan has resigned and that former MoneyGram CEO Alex Holmes has been appointed as the company’s new CEO and Chairman.
Holmes stated that his priorities will center on “operational stability and regulatory compliance progress,” as well as driving the company’s transformation into a diversified fintech platform. Holmes served as CEO and Chairman of MoneyGram from 2016 to 2024 and brings over 16 years of executive experience in the payments industry.
This leadership change comes less than three months after the company unveiled its succession plan in November last year. Meanwhile, co-founder Brandon Mintz has stepped down as Executive Chairman but will remain on the Board of Directors and serve in an advisory capacity.
Bitcoin Depot currently faces mounting regulatory pressure. Last week, Connecticut suspended the company’s operating license in the state, citing excessive fees and failure to reimburse victims of fraud. In its latest financial report, the company warned that core business revenue could decline by 30% to 40% this year due to evolving regulatory conditions.
The broader Bitcoin ATM industry is also under strain: California fined Coinhub $675,000, while Chicago-based operator Crypto Dispensers—whose founder faces money laundering charges—is reportedly considering selling its business for $100 million.
