Chicago's Crypto ATM Giant Faces Big Changes Amid Legal Storm

A major player in the crypto ATM world is at a crossroads. Crypto Dispensers, based in Chicago, is thinking about selling the company for up to $100 million. This comes at a tough time, as the company's CEO is facing serious money laundering charges. The company recently said it's looking into its options, including a possible sale. They've moved away from physical ATMs to focus more on software, hoping to avoid fraud and regulatory issues. The CEO, Firas Isa, sees this as a step toward growth. He believes software offers more potential than hardware. But there's a big cloud over this potential sale. Just days before the announcement, federal authorities accused Isa and the company of laundering $10 million. They say Isa took money from fraud and drug trafficking, converted it to crypto, and hid its origins. Both Isa and the company deny these charges, which could lead to a 20-year prison sentence if proven true. This isn't the only trouble for crypto ATMs. Across the U. S. , these machines are facing more scrutiny. The FBI reported over 11, 000 scams linked to crypto ATMs in 2024, costing people more than $246 million. Cities like Stillwater, Minnesota, and Spokane, Washington, have banned these machines outright. Others, like Grosse Pointe Farms, Michigan, are imposing strict limits on transactions. The future of Crypto Dispensers is uncertain. Will they find a buyer? Can they clear their name? One thing's for sure: the crypto ATM world is changing fast, and not everyone is keeping up.