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
Solana’s New Inflation Overhaul Proposal Fails, Stakeholders Say Vote Signals Strong Community Engagement
A proposal to revamp Solana’s inflation system has been rejected by stakeholders, yet it is being celebrated as a milestone for the network’s governance.

Telegram Founder's Departure Triggers 67% Spike in Toncoin Trading
XRP Price Surges Against Ether, Fueling Speculation of Market Cap Flip
Trending news
MoreCrypto prices
More








