Bitwise insists 'no affiliation' with startup facing SEC charges
Bitwise Asset Management stresses it has no relationship with the startup Bitwise Industries whose founders have been charged with conspiring to commit wire fraud. Crypto index fund manager Bitwise Asset Management has stressed that it has no relationship with the failed technology startup Bitwise Industries, which is currently facing charges from the United States Securities and Exchange Commission. Today we announced charges against Jake Soberal and Irma Olguin, Jr., the former co-CEOs of Fresno, California-based private technology services startup Bitwise Industries Inc., for misleading investors about the company’s finances. — U.S. Securities and Exchange Commission (@SECGov) November 9, 2023 On Nov. 9, Irma Olguin, Jr. and Jake Soberal, the founders of Bitwise Industries, were charged with conspiring to commit wire fraud and taking $100 million from various investors despite its business model failing. The SEC has alleged that the pair falsified documents to deceive i...