Bitwise insists ‘no affiliation’ with startup facing SEC charges By Cointelegraph

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.

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 investors and raise funds.