Connecticut Bank Suspends Bitcoin Depot Operations Due to Worsening 2026 Revenue Outlook

Bitcoin Depot, a publicly listed cryptocurrency ATM provider in the U.S., is facing increasing legal pressure amid a sharp decline in stock prices and weakening revenue prospects. On March 9, the Connecticut state regulator ordered a suspension of operations and revoked the company's money transfer license due to violations, including failure to meet minimum capital requirements, high fees, and incomplete refunds to scam victims.

Revenue in 2025 is projected to reach $615 million, up 7%, but net profit decreased to $5.1 million. In Q4 alone, revenue fell to $116 million due to tighter regulations. The company forecasts that 2026 revenue could decline by 30–40%.

Bitcoin Depot is also facing lawsuits in several states, including Massachusetts and Iowa. The BTM stock has dropped 91% since its peak in June 2025, reflecting increasing legal pressures.