Crypto
Bitcoin ATM Market Is Undergoing 'Necessary Correction,' CoinFlip Founder Daniel Polotsky Says – Grayscale Bitcoin Mini Trust (BTC) Common units of fractional undivided beneficial interest (ARCA:BTC)
Cryptocurrency ATMs typically lack options. Most only allow customers to trade cash in for Bitcoin BTC/USD.
That’s not the case with CoinFlip, the Chicago-based startup founded by 29-year-old Daniel Polotsky.
In addition to Bitcoin, CoinFlip offers Ethereum ETH/USD, Litecoin LTC/USD, Dogecoin DOGE/USD, Stellar Lumens XLM/USD, Chainlink LINK/USD, Pax Gold PAXG/USD, USD Coin USDC/USD, and Tether USDT/USD, Polotsky tells Benzinga.
Read on for Polotsky’s thoughts on the dwindling number of ATMs, M&A, venture capital and CoinFlip’s global aspirations.
See Also: Scaramucci Says It’s Trump’s Election To Lose, What Kamala Harris Ought To Do To Win
Polotsky: I’m not concerned about the declining number of Bitcoin kiosks. It seems like many companies are working to optimize their operations, and some actors that weren’t managed well or didn’t comply with regulations are closing down. This might mean fewer ATMs overall, but those that remain are likely to offer better consumer protection and a higher-quality experience. At CoinFlip, for example, we prioritize consumer support with our 24/7 customer service, which sets us apart from others in the market.
While there may be a reduction in ATMs in North America due to these adjustments, global demand for Bitcoin ATMs remains strong. This suggests to me that the market is undergoing a necessary correction rather than indicating a lack of interest in cryptocurrency services. This is a positive step towards a more robust and compliant environment.
BZ: Coin Cloud went bankrupt; Genesis Coin picked up the pieces. Is the crypto ATM space ripe for consolidation?
The crypto ATM space has been undergoing some consolidation. Genesis Coin stepping in to acquire a substantial portion of Coin Cloud’s ATM network after it declared bankruptcy underscores this trend.
Operating these machines amidst fluctuating cryptocurrency prices, high operational costs, and evolving regulations in the crypto space certainly contributes to a challenging environment but it also presents opportunity. With smaller operators struggling to maintain profitability, larger players with more robust infrastructures are increasingly acquiring their networks.
We’re always exploring strategic opportunities to expand our footprint and product offering, including M&A. However, any decision to pursue acquisitions would depend on market conditions and the strategic value of potential targets. As regulations continue to form, we might see more smaller operators end up in a similar situation as Coin Cloud. We invite operators that are in that position to reach out. CoinFlip’s focus remains on sustainable global growth and innovation in the ATM space and beyond.
BZ: What is CoinFlip Ventures and when did it launch?
CoinFlip Ventures launched in July 2022 with a $1 million fund to support early-stage startups in the crypto space. The initiative focuses on DeFi, NFTs, tokenization, and other blockchain innovations.
Some current and potential notable investments include Domination Finance, a decentralized derivatives market where users can bet on a new financial instrument — dominance trading; Function03, a company that is working on labeling the wallets on the blockchain and building essential ecosystem infrastructure; Hopscotch, a messaging app for marketplace deals which helps prevent fraud, increases sales, and allows users to pay with crypto to settle transactions; Koii Network, a decentralized physical infrastructure network that pays users for their device’s compute power; and Entertainmint, a streaming, ticketing, and distribution platform where users can fund their favorite creators’ show ideas to ensure they get made.
BZ: What inspired CoinFlip to look to New Zealand as a key market and become its first crypto kiosk operator?
The same fundamentals that made us the world’s largest crypto kiosk operator by transaction volume enable us to succeed in promising, new markets like New Zealand. Being first to market gives us a competitive edge. It establishes CoinFlip as a leading player in the cryptocurrency space in New Zealand while attracting customers who are eager for alternative avenues into the digital sector that are also secure.
Another significant factor is New Zealand’s banking landscape. Kiwis have fewer banking options compared to the U.S., creating a more rigid financial system that limits how people can handle their currency. This kind of environment tends to create a demand for alternative financial solutions, making the option to buy crypto with cash particularly appealing. Our services provide greater financial flexibility and opportunities, filling a gap in the market.
BZ: What’s next for CoinFlip?
We’re eager to explore new ways to meet our customers where they are. We are well on our way to establishing a global network of crypto kiosks, positioning ourselves not only as a facilitator of cash-to-crypto transactions but also eventually as the go-to platform for global remittances, bill pay, U.S. tokenized assets, and a cash on-ramp for a variety of services like online gaming/ticketing. We’re also broadening our services for high-net-worth individuals and institutions through CoinFlip Preferred, a white glove service for customers who wish to trade higher amounts via bank transfer.
CoinFlip Preferred provides consumers with same-business-day settlement, superior pricing, and deep liquidity access to buy/sell/swap cryptocurrency. Additionally, we plan to enhance our online capabilities via our mobile wallet and allow for more convenient purchases using methods like ACH and debit/credit cards.
Stay Tuned: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.
Read Next:
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Crypto
St. Augustine Film Festival will honor creator of film about crypto scams
See Wreaths Across America 2025 at St. Augustine National Cemetery
Participants at the annual event place more than 1,000 wreaths on tombstones of service men and women.
Ben McKenzie will receive a Career Achievement Award at the St. Augustine Film Festival Jan. 10 prior to the screening of his documentary, “Everyone is Lying to You for Money.”
The former star of “The OC” wrote, directed and produced the film while writing his New York Times bestseller “Easy Money,” which spotlights cryptocurrency as a large-scale scam.
Working in collaboration with journalist Jacob Silverman, the film includes interviews with currently jailed cryptocurrency industry leaders and celebrities now facing trials for misleading the public on the value of cryptocurrencies as virtual money.
Sporting degrees in economics and political science from the University of Virginia, McKensie traveled to El Salvador – also known as Bitcoin city – and London’s banking district to showcase fraud perpetrated by Alex Mashinsky, the founder and CEO of Celsius Network, who was sentenced to 12 years in prison for one count of commodities fraud and one count of securities fraud.
New York prosecutors accused Mashinsky with deceiving clients about the company’s finances and manipulating the price of Celsius’ token, which caused billions of dollars in losses.
The movie also includes interviews with individuals who were part of the scam before it collapsed, McKensie’s testimony before Congress following the arrest of Sam Bankman-Fried and his trip to El Salvador.
“I turned the cameras on to document the difference between the marketing campaign and the reality of what was happening on the ground,” he told the St. Augustine Record. “Cryptocurrency was perpetuated by a very small number of people who made a lot of money in an industry rife with fraud, corruption and criminal activity.”
McKensie underscored the film as an unusual comedy that he’s deeply proud of.
“The film highlights the idea of avoiding intermediaries as appealing, but creating a currency that bypasses a banking system would never work,” he said. “The idea of investing in this obtuse thing that was hard to understand evolved/metastasized to exhibit the worst parts of our current system.”
McKensie described the “command tactic” of the get rich scheme as a con man tactic that lured people in as Bitcoin emerged during the wake of a financial crisis.
Bankman-Fried, the founder of the FTX cryptocurrency exchange, was eventually convicted of wire, securities and commodities fraud along with money laundering and conspiracy and sentenced to 25 years in prison.
McKensie’s involvement was born and bred from COVID, “when I had time on my hands to check the financial markets.”
“I’m not an economist, but I love theory and behavioral economics,” he said. “I especially love the writings of the Nobel Prize winning economist Robert Schiller, who talks about things that were applicable to crypto that naturally occur in Ponzi schemes.”
Convinced that no one was monitoring the “price of a speculative asset rising far beyond what it was worth in terms of practical use in the real world,” McKensie turned to social media as a platform to show that “crypto was getting out of hand.”
Posts connected him to Silverman and together they worked on reporting on the ill-fated concept. It didn’t take long before a book proposal landed on his desk.
“Then it was off to the races,” he said.
“I’ve met a lot of really interesting people I never would have met if not for the book,” he said. “I’ve never done anything like this before so I’m really glad I did.”
McKensie said that Greg von Hausch, co-founder of the SAFF, was persistent in adding “Everyone is Lying to You for Money” to the festival.
While the success of the book and the film remain paramount to an actor who hedged his bets in New York because of his love of “the art,” the Texas native has a long and successful acting resume that includes stints on Broadway for “Grand Horizons,” which received a Tony nod for Best New Play, an appearance in “Junebug” with Amy Adams and one in “88 Minutes” starring Al Pacino. Other film credits include the indie film “Johnny Got His Gun” and “Some Kind of Beautiful” with Pierce Brosnan and Salma Hayek.
Other film credits include “Decoding Annie Parker” opposite Helen Hunt and a starring role in the short film “The Eight Per Cent of the 2009” shown in New York’s Tribeca Film Festival.
In 2009, he returned to series television in “Southland,” portraying a patrol officer in Los Angeles. McKensie also starred as Detective James Gordon in the series “Gotham,” detailing Gordon’s rise in Gotham City before Batman’s appearance.
McKensie made his directorial debut in Season 3 of “Gotham” where he met his then co-star and now wife, Morena Baccarin, who is the mother to his two children. The family resides in New York.
Crypto
Discover the Top Hottest Meme Coins of 2026
Embrace the future of cryptocurrency with the latest meme coins, offering unique opportunities and connection to internet culture. Explore an extensive overview of the top tokens in this rapidly evolving market.
Our comprehensive assessments explore the usability, security, features, and community support provided by these tokens. Acquire the knowledge necessary to confidently select your ideal meme coin.
The Best Meme Coins in 2026
Solaxy is not just a meme coin. Yes, the Pepe-Einstein mascot and vibrant illustrations scream meme coins, but Solaxy has much more going on.
The project is building a layer-2 scaling solution for Solana that shakes up the game by tackling network congestion. How? By processing transactions off-chain and bundling them for final verification. That means lower fees, lightning-fast speeds, and smooth trading.
That’s just the start. The white paper teases bigger plans, including cross-chain compatibility with Ethereum. This could unlock massive opportunities in NFTs, gaming, and DeFi.
The community is growing at breakneck speed, with 70,000+ strong on X (Twitter), and the Solaxy (SOLX) presale is racing ahead. It has raised around $31 million already.
Early investors in Solaxy are also earning big from the staking program that boasts a jaw-dropping 160% APY, with nearly 7 billion tokens already locked. The passive rewards curb early sell-offs and rewards long-term believers.
Solaxy isn’t just about hype. It’s built for sustainable growth. A hefty 25% of the total supply is set aside for community rewards for continued engagement. Meanwhile, 30% fuels project development. SOLX is clearly one of the hottest meme coins to buy now.
Welcome bonus
Innovative Layer-2 Solution for the Solana Ecosystem With More Reliable Transactions
Snorter is the adventurous project that combines meme coin energy with serious trading power. It is a full-featured Telegram bot that makes trading Solana tokens fast, simple, and secure. With just a few taps on your phone, you can buy, snipe, sell, or set up stop losses without ever leaving Telegram.
The SNORT token powers this system, giving users access to premium features and helping fuel the bot’s entire ecosystem. With over $550,000 already raised in its presale, it is clear that traders are paying attention, and the earlier you join, the cheaper the token.
Snorter’s ease of use and powerful toolset make it the best Solana bot for meme coin hunters. Whether you want to catch early launches, protect your trades, or copy top wallets, Snorter gives you the tools to do it all in seconds.
With this kind of utility, fun branding, and real-time use cases, Snorter has everything it needs to go viral. And that momentum could make SNORT one of the biggest meme utility tokens in the space. If you are thinking of joining, now is the time to grab it before prices start rising.
Welcome bonus
Full-featured Telegram bot that makes trading Solana tokens fast, simple, and secure
Bitcoin has always been trusted for its security, but it has struggled with real use in everyday apps and payments. Now, Bitcoin Hyper wants to change that. It is building a powerful Layer 2 network that fixes Bitcoin’s biggest problems, like slow speeds, high fees, and the inability to run smart contracts.
This is the kind of upgrade many Bitcoin holders and developers have been waiting for. With tools like the Solana Virtual Machine for fast dApps and a Canonical Bridge to move BTC in and out of Layer 2 easily, Bitcoin Hyper is turning the original blockchain into something much more useful.
The presale for the HYPER token is live, and it is moving quickly. With prices increasing at each stage, early buyers could see real upside as the project gets closer to launch. A solution like this with real utility, fast transactions, low fees, and staking rewards has the potential to grow into something massive. That is probably why the presale is getting so much attention.
Welcome bonus
Powerful Layer 2 network that fixes Bitcoin’s biggest problems
Ditching the recycled meme coin formulas, Bitcoin Bull takes charge with a reward and burn mechanism directly linked to Bitcoin’s price. The ongoing BTCBULL presale just smashed $4.5 million, with investors piling in.
BTCBULL offers milestone-based airdrops, where holders receive rewards when BTC crosses $150,000. Airdrops continue at every $50,000 BTC price increase.
Deflationary burns are another key feature. The first burn kicks in at $125,000, gradually reducing BTCBULL’s supply. The mechanism supports BTC’s value appreciation over time.
The platform allows users to earn BTC passively and get real Bitcoin and BTCBULL tokens, creating multiple income streams. With over 700 million tokens already locked, BTCBULL’s staking model is proving its strength.
Analysts predict Bitcoin could hit $200,000 this year. The forecasts have strengthened the hype around BTCBULL. As a meme coin linked to Bitcoin’s key price milestones, the project has high growth potential this year.
Welcome bonus
Bitcoin Mania in Meme Coin Avatar
SUBBD is a brand-new crypto project that combines artificial intelligence with content creation. The project’s goal is simple; radically transform how creators connect with their audiences.
And how does SUBBD do that? It automates key tasks such as streaming, scheduling, editing, and community management.
Creators can focus on producing quality content, as a result.
At the very heart of SUBBD’s ecosystem is the $SUBBD token. It unlocks exclusive access to premium features, platform discounts, and VIP perks.
The project’s token staking mechanism adds to the presale hype. Withina few hours of going live, the presale has raised over $100,000.
As a project that empowers creators and engages fans more intimately, SUBBD is a top altcoin to watch ahead of the next crypto rally. SUBBD is on a mission to disrupt the $85 billion content subscription market.
SUBBD tokens can be purchased using ETH, BNB, USDT, USDC, or traditional bank cards.
Welcome bonus
The Ultimate Crypto Presale Experience for Creators and Their Fans
Crypto
Glasgow police warn public of cryptocurrency scam – WNKY News 40 Television
GLASGOW, Ky. – The Glasgow Police Department says a scam is targeting individuals, according to a release.
Major Terry Flatt says the department has received complaints about scams and fraud resulting in thousands of dollars in losses.
Flatt says that individuals are being contacted by someone claiming to be an investment manager who promises to grow their money by purchasing cryptocurrency.
The caller will advise the phone call recipient to visit a website that appears authentic but is actually fraudulent.
Flatt says that when scam victims attempt to withdraw earnings, they are told that they need to pay high fees.
The GPD media release states that scammers advertise individual retirement accounts as IRS-approved.
The fraud begins with a pop-up message from internationally recognized companies. The pop-ups state that the individual has a virus on their personal device.
The scammers encourage victims to contact them for remote support, allowing the scammers to access all of the victims’ information and to install malware.
Flatt says some of the scams require victims to place money on gift cards. The scammers will then ask for the gift card code.
The Glasgow Police Department advises residents not to provide any personal information and to report suspicious activity immediately by calling local law enforcement.
-
Detroit, MI5 days ago2 hospitalized after shooting on Lodge Freeway in Detroit
-
Technology2 days agoPower bank feature creep is out of control
-
Dallas, TX4 days agoDefensive coordinator candidates who could improve Cowboys’ brutal secondary in 2026
-
Health4 days agoViral New Year reset routine is helping people adopt healthier habits
-
Nebraska2 days agoOregon State LB transfer Dexter Foster commits to Nebraska
-
Iowa2 days agoPat McAfee praises Audi Crooks, plays hype song for Iowa State star
-
Nebraska2 days agoNebraska-based pizza chain Godfather’s Pizza is set to open a new location in Queen Creek
-
Entertainment1 day agoSpotify digs in on podcasts with new Hollywood studios