Cash Cloud, Coin Cloud’s Crypto ATM Provider in the US and Brazil It filed for Chapter 11 bankruptcy in the US Bankruptcy Court for the District of Nevada on Feb. 7.
The company reported that haveIt has between $100 million and $500 million in debt, with between 5,001 and 10,000 creditors, and assets between $50 million and $100 million. Cash Cloud’s largest creditor is Genesis Global Capital, a subsidiary of the bankrupt lending business. Previously of Digital Currency Group, Genesis was the largest creditor at over $108 million.
bloomberg everreportOn Nov. 22, citing unnamed sources, Coin Cloud took an unsecured loan of about $100 million from Genesis and was negotiating with the company to find out. “Additional funds” to help restructure about $125 million in debt.
Coin Cloud reportIn a January 2022 blog post that there were over 1,100 Crypto ATMs available at the time. and said it was “A critical moment of the company’s exponential growth.”
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