Bitwise Executives Charged with Fabricating Finances, ETF Plans Continue Despite Scandal
Bitwise Industries co-founders Irma Olguin Jr. and Jake Soberal have been arrested for allegedly executing a fraudulent scheme that swindled investors out of $100 million. They are accused of fabricating bank statements and providing false financial information to investors and their own board. The charges come after Bitwise furloughed 900 employees, causing disruption to its operations and putting the future of the company's commitments to various U.S. cities in doubt. Despite the scandal, Bitwise has amended its application for a Bitcoin ETF to offer investors regulated exposure to Ethereum and Bitcoin futures.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
New Coin Listing – Crypto All-Stars Presale Hits $23.7 Million, 21 Hours Left
Crypto liquidations hit $1B as traders were ‘unprepared for bad news’
More than $1 billion has been liquidated in the crypto market over the past 24 hours as market participants were caught off guard by the strong momentum for crypto over the past 30 days. However, the analyst suggests the market downturn may be short-lived. “We’ve had such a bullish narrative over t
$SHIRO (CTO) Donates $1,000 USDT to the Neiro Foundation
A crypto collaboration to support animal welfare and global causes
Crypto liquidations hit $1B as traders were ‘unprepared for bad news’
Trending news
MoreCrypto prices
More
