Bitcoin Depot, a US-based Bitcoin ATM provider, has announced that it will begin trading on the Nasdaq on July 3 after partnering with fintech firm GSR II Meteora Acquisition Corp.
Previous reports revealed that the agreement between the two entities is worth $885 million.
“BTM” appears on the Nasdaq
Partners announce Completion of the merger of the Special Purpose Acquisition Company (SPAC). The merged enterprise will be renamed Bitcoin Depot Inc. It will be managed by the current management team.
The common stock must begin trading on July 3, 2023, under the Nasdaq ticker symbol “BTM”. The general order was scheduled for the same day with the abbreviation “BTMWW”.
Brandon Mintz – CEO and founder of Bitcoin Depot – called the move an “important milestone and an incredibly proud moment” for the entire team.
He added, “Bitcoin Depot is well positioned with the largest market share in North America, and the additional capital from this transaction will help support the many growth opportunities while furthering our mission to bring safe and secure Bitcoin to the masses.”
Gus Garcia — Co-CEO and Director of GSR II Meteora Acquisition Corp. His entity is “excited” to support Bitcoin Depot’s expansion path. He believes that the latter is “preparing to continue its momentum to take advantage of the highly fragmented Bitcoin ATM market” in the USA and abroad.
Thus, Bitcoin Depot adds to the growing list of cryptocurrency-related companies that have started trading on the global online market – Nasdaq. Others include the popular Coinbase platform, crypto miners Marathon Digital and Riot Blockchain, and more.
Bitcoin Depot Problems in Texas
BTC ATM operator recently foot sued the sheriff’s office in McLennan County, Texas, claiming that the latter illegally confiscated $15,000 from one of his machines.
Authorities seized the amount from a Bitcoin ATM in Waco after scammers lured an 82-year-old woman into depositing it there. The money belonged to the victim, Sheriff Parnell McNamara said, adding that the company “could go to hell.”
“The $15,000 that you put in the device was still in the wallet that you put it in. So we got the $15,000 back and took it back to the office. We photographed it, put it up as evidence, and eventually gave it back to the victim so she wouldn’t be traumatized more by these creeps.”
The company argued that the sheriff’s office had jurisdiction to confiscate the money without returning it to the person. The lawsuit also makes it clear that Bitcoin Depot was not a fraud, meaning the woman’s actions should not be blamed.
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