Coin Cloud, the company that operates more than 4,000 bitcoin ATMs across the US and Brazil, has filed for bankruptcy protection with an estimated liability of between $100 million and $500 million.
The Las Vegas-based company has between $50 million and $100 million in assets and about 10,000 creditors, according to a February 7 filing in the US Bankruptcy Court for the District of Nevada.
The company's biggest lender is Genesis Global Trading, which has more than $100 million in unsecured loans. Genesis is also discussing equity injections into ATM operators, according to a November report by Bloomberg.
