Bitcoin ATM Company Weighs $100 Million Sale After Money Laundering

Crypto Dispensers (also known as Virtual Assets LLC), a Chicago-based operator of ATMs that allow users to buy and send Bitcoin and other cryptocurrencies, said Friday that this is so weigh a potential sale worth approximately $100 million.

The announcement came just days after the US Department of Justice reported against both the company and founder and CEO Firas Isa, alleging they committed a $10 million money laundering scheme.

Crypto Dispensers and Isa have pleaded not guilty to the single charge of money laundering against both, which carries a maximum prison sentence of 20 years.

The DOJ filing alleged that Isa and his company received money from victims and criminals through Bitcoin ATMs. Despite know-your-customer (KYC) requirements intended to prevent money laundering, prosecutors allege Isa converted these illicit funds into cryptocurrency and transferred them to other wallets.

If convicted, Isa and his company face asset forfeiture, including any property involved in the alleged money laundering, with the government able to pursue replacement assets if necessary.

Crypto Dispensers said Friday that it is “evaluating a potential sale worth approximately $100 million” and that it has “retained advisors to support the assessment as consolidation accelerates in the cash-to-crypto and digital asset infrastructure sector.”

“This review is about understanding the next phase of growth and determining which path will create the most value for the platform we have built,” Isa said in a statement.

Declutter reached out to Crypto Dispensers to clarify whether the company has lined up a potential buyer or is more likely to announce it is open to a deal. Declutter also asked for comment on the U.S. allegations, but did not immediately receive a response to questions.

The potential sale of Crypto Dispensers comes as markets have collapsed after a huge rebound in the first ten months of the year. Bitcoin dropped to almost $81,000 early Friday, with the lowest price since April. BTC reached an all-time high of $126,000 in early October.