Coin Cloud files Chapter 11 bankruptcy with over $100 million in debt

By Sarah Lizee

Olympia, Wash., Feb. 7 – Cash Cloud, Inc., which does business as Coin Cloud, filed Chapter 11 bankruptcy on Tuesday in the U.S. Bankruptcy Court for the District of Nevada.

Coin Cloud operates about 4,983 crypto ATMs throughout the United States, which collect and hold cash from customer purchases of cryptocurrency.

In its petition, the debtor listed 5,001 to 10,000 creditors, $50 million to $100 million in assets, and $100 million to $500 million in liabilities.

Its largest unsecured creditors are Genesis Global Trading Inc., based in Jersey City, with a $108.57 million unsecured debt claim, Cole Kepro, based in Las Vegas, with an $8.54 million professional services claim, Brink’s U.S., based in Atlanta, with a $2.52 million trade debt claim, and EZ Blackhole, based in Portland, Ore., with a $1.38 million service agreement claim.

Fox Rothschild, LLP is general bankruptcy counsel, and Province, LLC is financial adviser.

The Las Vegas-based digital currency machine company filed bankruptcy under Chapter 11 case number 23-10423.

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