San Francisco Leads Crypto Adoption: 100+ Businesses, Crypto ATMs
Release: 2024/09/28 15:49 Reading: 227
Crypto ATMs Gaining Ground Amid Global ATM Decline
Despite a slowdown in traditional ATM installations worldwide, the adoption of crypto-facilitating ATMs has been on the rise, according to financial experts.
San Francisco: a Crypto Hub
San Francisco stands out as a hub for cryptocurrency activity. Its businesses and infrastructure are deeply intertwined with the industry. Over 100 businesses now accept cryptocurrency payments, and the city hosts numerous crypto-related events and meetings.
Report Highlights Crypto ATM Growth
The Crypto Banking 2024 report by Coincub notes that San Francisco is a major crypto center with over 100 businesses accepting crypto payments and more than 400 crypto ATMs. Headquartered in San Francisco are several crypto-friendly banks, including Anchorage Digital, Juno Bank, and Series FI.
The report also identifies Dallas, Phoenix, Boston, San Diego, Portland, and Detroit as other prominent crypto hubs in the United States.
US Leads in Crypto ATM Deployment
According to Coinatmradar, the US holds the top spot in crypto ATM installations with over 31,461 units, surpassing Canada, Australia, Spain, Poland, and others. Los Angeles leads the country with 1,640 crypto ATMs, followed by Houston with 1,289, Atlanta with 846, Miami with 738, and Baltimore with 682.
Regulatory Scrutiny Accompanies Crypto Growth
As crypto adoption accelerates in the US, so too does the number of lawsuits against crypto-based companies. The Securities and Exchange Commission has collected over $1 billion in penalties.
Crypto Market Update
At the time of writing, the cryptocurrency market capitalization stood at $2.31 trillion with an intraday surge of 0.91%. The CoinMarketCap Fear & Greed Index was at 57, indicating a neutral market sentiment.
Bitcoin was trading at $65,842 with a weekly gain of 4.45%. Despite a decline in trading volume, Bitcoin ETFs continue to see inflows.
Among the top intraday gainers were Nervos Network, Pepe, Shiba Inu, and Notcoin. PopCat, Sei, SUI, and Fantom experienced significant losses.
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