Bitcoin ATM Firm Eyes $100M Buyout as CEO Faces Federal Indictment

Crypto Dispensers, a Chicago-based Bitcoin ATM company, is exploring a sale of up to $100 million as its founder faces a federal money laundering indictment.

In a Friday statement, the firm said it hired advisors to conduct a strategic review and gauge buyer interest. It highlighted its 2020 shift away from physical ATMs toward a software-focused platform, saying the move was meant to cut fraud, improve compliance and keep up with tighter US crypto rules.

CEO Firas Isa described the process as the next step, arguing that hardware showed the limits of the model while software revealed its scale. The company warned that a deal is not guaranteed and it may decide to stay independent.

The review comes after the United States Department of Justice unsealed charges accusing Isa and Crypto Dispensers of helping launder $10 million. Prosecutors say that between 2018 and 2025, Isa knowingly accepted proceeds from wire fraud and narcotics trafficking through the firm’s network.

Despite know-your-customer requirements, the DOJ alleges he turned those funds into cryptocurrency and moved them into wallets designed to hide their origin. Isa and the company have pleaded not guilty to a single conspiracy count that carries a maximum 20-year prison term and possible seizure of assets.

The case lands as crypto ATMs face pushback from US cities over scams and consumer losses. The FBI logged nearly 11,000 complaints involving digital asset kiosks in 2024, with losses of more than $246 million.

Local officials are responding with bans and strict caps. Stillwater, Minnesota, and Spokane, Washington, have enacted citywide prohibitions after residents lost thousands to fraud, while Grosse Pointe Farms, Michigan, has approved tight transaction limits on future crypto ATM installations.