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Bitcoin Updates: Chicago Bitcoin ATM Sales—Expansion Plan or Result of DOJ Actions?

Bitcoin Updates: Chicago Bitcoin ATM Sales—Expansion Plan or Result of DOJ Actions?

Bitget-RWA2025/11/23 15:30
By:Bitget-RWA

- Chicago-based Bitcoin ATM operator Crypto Dispensers explores a $100M sale amid federal money laundering charges against founder Firas Isa. - DOJ alleges the company processed $10M in illicit funds via ATMs, converting cash to crypto through untraceable wallets despite KYC obligations. - The firm shifts to software operations since 2020, citing rising compliance costs and fraud risks amid broader crypto market turbulence. - Isa faces up to 20 years in prison if convicted, while DOJ’s enforcement signals

Chicago

ATM Operator Considers Sale After Facing Federal Money Laundering Allegations

Crypto Dispensers, a company operating Bitcoin ATMs and based in Chicago, is considering a possible sale valued at $100 million following federal charges against its founder, Firas Isa, who has been indicted for allegedly conspiring to launder money. The business

, noting that it has brought on advisors to assess its options as it transitions from physical ATM machines to a software-centric approach. This decision follows accusations by the Department of Justice (DOJ) that Isa and the company were involved in a $10 million money laundering operation, were processed through the company’s ATMs and exchanged for cryptocurrency.

The DOJ’s indictment, made public on Nov. 18, alleges that Isa intentionally enabled the movement of illegal funds into cryptocurrency using a network of wallets designed to hide their source.

, including know-your-customer (KYC) protocols, the company permitted risky transactions. Both Isa and Crypto Dispensers have entered not guilty pleas, with the company stating in a press release that the strategic review is not connected to the ongoing legal case. " and choosing the direction that will maximize value for our platform," Isa commented.

Bitcoin Updates: Chicago Bitcoin ATM Sales—Expansion Plan or Result of DOJ Actions? image 0
for its shift toward software-based services since 2020. Nevertheless, the legal case has brought more attention to its business practices. , the company handled millions in unlawful transactions, with Isa directing the conversion of cash into digital currency and moving it through wallets that are difficult to trace. If found guilty, Isa could be sentenced to as much as 20 years in prison, and , including its ATM network.

The potential sale comes amid wider instability in the industry.

in October to about $81,000 by late November, increasing financial strain on crypto businesses that depend on transaction fees. , are prompting many companies to merge or leave the market. "For smaller firms, compliance costs are becoming unsustainable," one industry analyst noted, pointing to a rise in mergers and acquisitions in the field.

Crypto Dispensers has not yet commented on whether a buyer has been found or how the legal proceedings might influence the sale

. The company’s strategic review comes as the DOJ intensifies its crackdown on crypto-related offenses, of digital asset platforms.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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