Bitwise Asset Management issued a statement on November 9: “Bitwise Asset Management, Inc., headquartered in San Francisco, is an American cryptocurrency index fund management company that has no relationship and has never had any relationship with the now-defunct Bitwise Industries. Bitwise Industries is a former technology company based in Fresno, California." Bitwise Industries does not appear to be involved in the cryptocurrency business in any way.
Two US agencies have successively filed charges against the founder of Bitwise Industries. The US SEC said that founders Irma Olguin, Jr. and Jake Soberal raised US$70 million by falsifying the company's financial information; at the same time, the US Department of Justice said that the founders conspired to commit wire fraud and defrauded the company of US$100 million before its collapse. Dollar. The two men have not yet been found guilty, but each faces up to 20 years in prison, as well as penalties from various agencies. (CryptoSlate)