Family members, have you ever seen a Bitcoin ATM offline? Just a few days ago, industry leader Bitcoin Depot, which has over 9000 machines worldwide, officially filed for bankruptcy protection and suspended all of its assets. I believe many family members who travel to Hong Kong may have encountered similar machines on the streets of Central or Mong Kok, and even couldn't resist taking photos. To be honest, this business model has been imbued with the attribute of 'big injustice' since its inception: • Commission fees are overwhelming: Trading rates can reach as high as 7% to 20%, making online exchanges cry. Iron Fist Smashes Offline: Due to being a major victim of fraud and money laundering, various states in the United States have issued crazed bans. Forcing KYC and limits directly squeezed profits, causing the leading company to suffer a sudden loss of $9.5 million in the first quarter and go bankrupt. Compared to the complete collapse in the United States, although Bitcoin ATMs in Hong Kong are also facing increasingly stringent VASP (Virtual Asset Service Provider) compliance regulations, they have still become a unique Web3 check-in landscape on the streets due to different levels of policy tolerance for "inclusive finance". But the overall trend is irreversible, with over $1.2 trillion of fiat currency worldwide already flowing to online exchanges and ETFs, and offline tools destined to become "low profit stores" serving a very niche cash group. Have you experienced this cryptocurrency ATM on the streets of Hong Kong or overseas? Do you think this "offline cash withdrawal/exchange" model still has a way out in the future compliance era? Chat in the comment section! BitcoinDepot Bitcoin ATM Hong Kong Web3 Web3 Investment Bankruptcy Protection Cryptocurrency Compliance Fiat Channel