Bitcoin Depot to go Live on NASDAQ on July 3: Details
- Crypto ATM firm Bitcoin Depot will go live on the NASDAQ stock exchange on July 3.
- The common stock and public warrants of the crypto ATM firm will trade under the tickers “BTM” and “BTMWW.”
- Stockholders of fintech firm GSRM approved the merger of the firm with the crypto ATM firm.
- Brandon Mintz, the CEO of Bitcoin Depot, said that the merger will support “numerous growth opportunities.”
One of the leading crypto ATM firms in the United States, Bitcoin Depot, is set to go live on the NASDAQ stock exchange, as per recent reports. This announcement comes at a time when the crypto space is facing severe regulatory pressure from the authorities in the region, and many firms have even quit operations in the country, including major crypto exchange Kraken.
According to an announcement on June 30 by fintech firm GSR II Meteora Acquisition Corporation, the GSRM stockholders have approved the merger for the firm to act as a special purpose acquisition company for Bitcoin Depot during a special meeting on June 28, 2023, and it closed on June 30, 2023.
The official statement from the firm confirmed that the merger of the two firms will be renamed Bitcoin Depot Inc. and will be led by its existing management team. It was further revealed that the common stock and public warrants of the crypto ATM firm “are expected to begin trading on July 3, 2023, on the Nasdaq under the ticker symbols ‘BTM’ and ‘BTMWW’, respectively.”
Brandon Mintz, the CEO and Founder of Bitcoin Depot, stated that the merger “will help support our numerous growth opportunities while advancing our mission to safely, securely, bring Bitcoin to the masses,” while Gus Garcia, the Co-CEO and Director of GSRM, stated that the merger is “poised to continue its momentum to take advantage of the highly fragmented Bitcoin ATM market both domestically and overseas.”
“Bitcoin Depot has a proven track record of growth and profitability, and its transaction volumes have remained strong despite the price volatility of Bitcoin. It’s been an honor to support the Bitcoin Depot team on their path to becoming a publicly traded company where it can further scale its business model and leverage its unique position in the expanding Bitcoin ecosystem,” said Lewis Silberman, Co-CEO and Director of GSRM.
It is also crucial to note that B. Riley Securities served as the capital markets advisor to GSRM, while Latham & Watkins LLP acted as the legal advisor to GSRM. Popular law firm Kirkland & Ellis LLP served as a legal advisor to Bitcoin Depot.
The announcement from the crypto ATM firm comes amid mixed feelings that regulators have shown towards the establishment of these machines. Recently, the Financial Conduct Authority (FCA) of the United Kingdom initiated a crackdown on multiple crypto ATMs, claiming that they were operating illegally.
A crypto journalist with over 3 years of experience in DeFi, NFT, metaverse, etc. Parth has worked with major media outlets in the crypto and finance world and has gained experience and expertise in crypto culture after surviving bear and bull markets over the years.
