Hey everyone. I started a Bitcoin OTC firm in 2016. At the time no one knew about bitcoin, I was just entering into my 20's. We ran the first brick and mortar business you could walk into and buy or sell Bitcoin at. We have 3 Bitcoin atms. It is fully compliant, Registered as a Money Service Business, I have updated compliance documents, Did and independent audit, and passed a title 31 examination.
At that time no banks wanted to work with us because they didn't understand bitcoin. The ones that would accept us wanted $1 Million in the account which we didn't have at the time.
In 2021 we decided to pause operations after an event with dealing with an issue at a bank. (I still maintained compliance and the business is still in good standing)
And the crypto landscape is much more inviting now. I've even found a bank based in Puerto Rico that will work with us.
Really what I need is someone with like $1-5M to inject into the company to be able to facilitate trades and maintain a bank account that services MSBs in the crypto space. I have lots of ideas on how to expand.
We started with $50k, and more or less "closed" with $2.4M.
I dont know anything about selling a business or raising capital but im more or less moved on. I would love to retain some equity and hang around as an advisor and plug in my vast network in the industry and get paid for this gem I built but dont have the proper capital or know how to take it to scale.
Any suggestions?
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