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Crypto Dispensers Weighs $100 Million Deal After DOJ Indictment Hits CEO

Key Takeaways

  • ​Crypto Dispensers is exploring a $100 million sale while its CEO faces federal money laundering charges;
  • The company shifted from Bitcoin ATMs to software in 2020 to reduce fraud and meet regulations;
  • DOJ alleges CEO Firas Isa helped launder $10 million through the ATM network between 2018 and 2025.

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Crypto Dispensers Weighs $100 Million Deal After DOJ Indictment Hits CEO

Crypto Dispensers, a Bitcoin BTC $85,901.90 ATM company, is looking into a possible sale valued at around $100 million while its founder faces federal money laundering charges.

The company said on November 21 that it has brought in advisers to assess its options and gauge interest from buyers.

In the announcement, Crypto Dispensers highlighted that it had already moved from operating physical ATMs to developing software services in 2020.

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The firm stated that this shift was aimed at addressing concerns about fraud and at complying with tighter regulations.

Chief Executive Firas Isa called the potential sale part of the company’s next stage of growth. Isa said:

Hardware showed us the ceiling. Software showed us the scale.

The company added that it might continue to operate independently, depending on how the review unfolds, and that there is no certainty that a deal will take place.

The announcement followed the US Department of Justice's indictment accusing Isa and the company of helping launder $10 million. Prosecutors claim that, between 2018 and 2025, Isa accepted money from wire fraud and drug trafficking through the ATM network.

The indictment stated that, despite identity checks, he converted the funds into cryptocurrency and transferred them to wallets designed to conceal their source.

Meanwhile, Australia’s Minister for Cybersecurity and Home Affairs, Tony Burke, is considering changes that could allow its financial intelligence agency to limit the use of crypto ATMs. What does the proposed law include? Read the full story.

Aaron S. Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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