Coin Cloud, which operates more than 4,000 bitcoin ATMs in the United States and Brazil, has filed for bankruptcy with an estimated liability of between $100 million and $500 million.
The Las Vegas-based company has assets of between $50 million and $100 million and up to 10,000 creditors, according to a filing in the US Bankruptcy Court for the District of Nevada dated Feb. 7.
The company’s largest creditor is Genesis Global Trading, which has an unsecured loan of just over $100 million. Genesis is a subsidiary of Digital Currency Group, which is also the parent company of CoinDesk. Genesis also discussed injecting capital into the ATM operator, Bloomberg reported in November.
