Crypto ATM operator BitcoinDepot CEO resigns before CEO resigns to deal with regulatory pressure

According to Decrypt, Bitcoin ATM operator BitcoinDepot announced the resignation of CEO ScottBuchanan and was replaced by former MoneyGram CEO Alex Holmes. Buchanan has held multiple senior leadership positions in the company since 2019, and his resignation was not due to differences with the company. Founder Brandon Mintz also resigned as executive chairman, but remained on the board and continued to serve as an adviser. This personnel change comes less than three months after the company announced the handover plan in November last year. BitcoinDepot is facing increasing regulatory pressure. Connecticut shut down its Bitcoin ATM business last week for overcharging and failing to refund fraud victims. The company warned investors that core revenue could fall by 30% to 40% this year due to the regulatory environment and compliance standards.