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.
Former Google engineering director Ankur Sinha named Remitly CTO; Karim Meghji to advisory role in February
Ankur Sinha, formerly a Google engineering director who oversaw Google Cloud’s commerce capabilities and previously spent 12 years at Microsoft, joined Remitly as chief technology officer. Several other Seattle-area tech and health hires and role changes are noted, including Karim Meghji shifting to an executive advisory role at Remitly at the end of February.
Seattle startups push into crypto, blockchain and Web3 amid investor caution and regulatory shifts
The article lists Seattle startups building products and services around crypto, blockchain, and Web3, noting the region’s talent but limited local investor interest and regulatory uncertainty. Industry leaders cite Seattle’s potential as a cloud-computing hub while warning entrepreneurs face funding disadvantages compared with other jurisdictions.
Deloitte’s 2021 Fast 500 Includes 26 Washington Firms; Coinme Tops Seattle Growth at 2,198% (Rank 78)
Deloitte’s 2021 North American Technology Fast 500 ranks the fastest-growing tech companies by revenue growth from 2017–2020; 26 Washington-based firms made the list, with 24 from the greater Seattle area and strong representation from Bellevue and software/SaaS companies. Coinme led local growth with 2,198% growth (ranked 78th), and Washington firms comprised about 5% of the full Fast 500.
Coinme raises $10M to expand crypto cash network enabling bitcoin purchases at 15,000+ MoneyGram and Coinstar locations
Seattle-based Coinme raised $10 million from existing investors to expand its cryptocurrency cash network that lets customers buy and sell bitcoin at over 15,000 physical locations through partners like MoneyGram and Coinstar.
Nick Hughes
Nick Hughes is the CEO of Founders Live and a successful American entrepreneur with business achievements in social media, digital payments, and e-commerce. He excels at interpersonal leadership, communication, business and product development. In addition to creating the global startup marketplace Founders Live, Nick stays busy as an advisor to numerous startups and occasionally takes positions in sales or biz dev roles if needed. Previously, he founded the mobile payment startup Seconds as well as helping start Coinme, a company built around expanding bitcoin and digital transactions into the physical realm via Bitcoin ATM’s. As a sought-after adviser, entrepreneurial speaker…
Coinbase IPO Soars to $85 Billion, Nets Windfalls for Early Backers Including Version One Ventures
Coinbase’s IPO pushed its valuation to $85 billion and delivered major returns to early investors like Version One Ventures, which made a highly profitable bet years ago. The article examines how Seattle and Pacific Northwest investors view crypto and blockchain as the region seeks to grow its fintech presence amid emerging local startups and initiatives.
Coinme raises $5.5M as transactions climb 40% and plans 50% hiring, led by Pantera Capital
Seattle cryptocurrency ATM startup Coinme raised $5.5 million as transaction volumes rose more than 40% since late February, aided by its Coinstar partnership and presence in essential retail locations. The company, led by CEO Neil Bergquist, plans 50% headcount growth, expansion into Latin America, and was led in funding by Pantera Capital.
People
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Neil Bergquist Founder, Co-founder and CEO
