Share this article
Diamond Circle Suspends Operations Amid Cash Crisis
Citing a lack of capital, Australian bitcoin hardware manufacturer Diamond Circle has suspended operations pending a buyer for its assets.
Updated Sep 11, 2021, 11:30 a.m. Published Feb 6, 2015, 10:40 a.m.
Australian bitcoin hardware manufacturer Diamond Circle has suspended operations citing a lack of capital.
The company, which launched Australia's first cashless ATM last year, is currently seeking a buyer for its wallet service, cloud hosted platform, NFC card technology, ATM network, hardware, bitcoin point-of-sale solution, data, trademarks and trade secrets, as well as the source code for all its platform components.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Speaking to CoinDesk, Stephen Rowlison, CEO at Diamond Circle, said that the decision had been taken based on a "lack of capital to continue system upkeep".
Rowlison added that it was a "tenuous situation for shareholders and creditors", but explained that the technological methods used meant there would be no impact to customers, as the company does not retain private keys to wallets.
The CEO is expected to make an official announcement "within days", alerting users that the wallet service has been permanently suspended, after "ensuring that they have transferred their bitcoins to another wallet".
The company is currently considering offers, the CEO said, but specifics could not be revealed at this time.
More For You
L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. Explore the key trends defining ten major blockchains below.
What to know:
2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns.
This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026.
More For You
Altcoins outpace bitcoin as precious metals' historic rally keeps macro focus sharp
Altcoins posted broader gains in quiet Sunday trading as bitcoin held a tight range near $88K and analysts weighed crypto against the surge in precious metals.
What to know:
- XRP, dogecoin and solana outperformed bitcoin and ether over the past 24 hours in thin weekend trading.
- Analysts said bitcoin remains range-bound between roughly $86,500 and $90,000.
- Glassnode flagged spot price sitting near one on-chain mean while remaining well below short-term holders’ cost basis.
Top Stories
