Bitcoin Depot is one of the best in the U.S. Bitcoin ATM operator announced a big change in leadership when founder Brandon Mintz and CEO Scott Buchanan, who had only been in the job for a short time, stepped down. The company made Alex Holmes the CEO and chairman of the board right away.
Holmes, a veteran fintech executive, served as chairman and CEO of MoneyGram International from 2016 to 2024. During his tenure, he led the company through a transformation into a global fintech business operating in more than 200 countries. He most recently held the position of Executive Vice Chairman at United Texas Bank, focusing on correspondent banking and U.S. dollar clearing for crypto-focused institutions.
“During my time on Bitcoin Depot’s board of directors, I’ve developed a deep understanding and appreciation for our business, our customers, and our positioning in the market,” Holmes said. “As I step into the role, my priorities are operational stability, regulatory progress, and accelerating the Company’s evolution into a more diversified fintech platform. I look forward to working closely with the team and keeping stakeholders informed as we execute against these priorities.”
Bradley Strock, lead independent director of Bitcoin Depot, noted,
“Alex has been a trusted voice on our board. His experience navigating complex, highly regulated global businesses, combined with his firsthand track record integrating blockchain technology into mainstream financial services and his deep public market experience, makes him the right person to lead Bitcoin Depot as it scales beyond its BTM foundation into a broader, more diversified fintech platform.”
Founder transitions to advisory role
Brandon Mintz, who built Bitcoin Depot into the largest Bitcoin ATM network in the United States, transitioned from executive chair to a non-executive board role and will advise Holmes.
“Bitcoin Depot is my life’s work, and I remain deeply invested in its success as a shareholder, a director, and as an advisor to Alex and the leadership team. I have full confidence in this transition and in the path ahead for this company and the people who have built it,” Mintz said.
The leadership overhaul comes as Bitcoin Depot faces mounting regulatory scrutiny. Connecticut suspended the company’s money transmission license on March 9, citing excessive fees, weak compliance controls, and incomplete refunds to scam victims. Massachusetts also sued the company earlier this year over alleged overcharging and failure to act against scams. Maine, Missouri, and Iowa took similar actions in 2025.
Bitcoin Depot warned in its latest financial report that revenue could fall 30% to 40% this year, citing a “dynamic regulatory environment” and enhanced compliance standards. On March 24, shares closed at $2.62, down 6.6% for the day, according to Google Finance data. This was because investors were worried about the company's future and state enforcement actions.
Operational challenges and strategic priorities
The company operates over 9,000 kiosks globally and provides services at retail locations through its BDCheckout product. Despite being the largest Bitcoin ATM network in North America, Bitcoin Depot faces a growing need to strengthen compliance and consumer protections amid increased state oversight.
Holmes’ appointment signals a shift toward operational stability and regulatory progress. He is expected to apply his experience from MoneyGram to enhance internal controls, navigate state-level enforcement, and guide the company toward a diversified fintech platform that extends beyond Bitcoin kiosks.
“Alex’s priorities of operational stability and regulatory progress are critical as the company navigates tighter compliance requirements and prepares for future growth,” a company spokesperson said.
Industry observers note that the broader crypto ATM sector faces rising scrutiny over scam-related complaints, fees, and consumer protections, making Holmes’ expertise in regulated payments central to Bitcoin Depot’s next phase.
Gunel Ismayilova
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