Facts
- HQ
- Seattle
- Sectors
- Cryptocurrency, Fintech, Financial Services
- Stage
- Seed
Seattle Crypto Startup Coinme to Be Acquired by Polygon Labs in Over $250M Deal
Seattle-based cryptocurrency startup Coinme, known for its bitcoin ATM network, agreed to be acquired by blockchain payments company Polygon Labs in a deal valued at over $250 million. The acquisition will combine Coinme's U.S. licenses and cash-to-crypto network with Polygon's global blockchain platform, despite Coinme recently facing regulatory challenges in Washington state.
Washington Regulators Order Crypto ATM Startup Coinme to Cease Operations Over $8M Misappropriation Claims
Washington state regulators issued a cease-and-desist order against cryptocurrency startup Coinme for allegedly misclassifying over $8 million in customer funds as income and violating state financial laws, prompting potential license revocation and fines. Coinme later reached an interim agreement to resume operations while the matter is resolved.
Coinme Sues Coinstar for Misappropriating Trade Secrets to Launch Competing Crypto Platform CINQ
Coinme filed a lawsuit against Coinstar accusing it of misusing trade secrets and confidential information to develop and launch a competing crypto-buying platform called CINQ at Coinstar kiosks. This dispute has led to a significant drop in Coinme’s transaction volumes as Coinstar allegedly promotes CINQ preferentially, causing customer confusion and loss of business for Coinme.
People
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Neil Bergquist Founder, Co-founder and CEO
