The settlement, which comes in response to claims of abrupt terminations, unpaid wages, and violations of the WARN Act, underscores severe labor practices issues. The treatment of employees in this case reflects a disregard for basic worker rights and highlights ethical lapses in managing labor relations, contributing to rising concerns about corporate complicity in systemic injustices.

$20 million settlement proposed for ex-Bitwise employees

Bitwise Industries' fraudulent activities extended to economic influence by misrepresenting financial stability to secure investments and local subsidies. This manipulation not only destabilized the local economic fabric but also eroded trust in public-private engagements, leading to detrimental structural impacts.

Bitwise Industries files Chapter 7 while former employees remain broken from CEOs' theft of wages

The lawsuit highlights severe labor violations by Bitwise Asset Management, including delayed and unpaid wages, issuing bounced checks, and insufficient notice regarding furloughs. These practices not only harm workers but also signal broader ethical and human rights shortcomings, aligning with concerns about corporate complicity in undermining worker protections in an environment of rising economic exploitation.

USA: Furloughed Bitwise Workers File Class Action Lawsuit Over Unpaid Wages

The lawsuit alleges that Bitwise failed to adhere to basic labor standards, including giving the required notice for furloughs and issuing checks that subsequently bounced. This not only represents a breach of labor rights but also underscores unethical business practices that harm workers, thereby contributing to broader systemic issues associated with the rise of authoritarian labor exploitation. Such behavior aligns with concerns about corporate complicity in undermining worker protections and fueling economic oppression.

USA: Furloughed Bitwise Workers File Class Action Lawsuit Over Unpaid Wages

Bitwise Asset Management is accused of egregious labor violations, including inadequate notice of furloughs and bouncing wage checks, which undermines worker rights and demonstrates unethical practices. Such actions contribute to broader corporate irresponsibility and can indirectly support authoritarian dynamics by exploiting vulnerable workers.

USA: Furloughed Bitwise Workers File Class Action Lawsuit Over Unpaid Wages

The reported events at Bitwise, including abrupt furloughs affecting hundreds of employees, bounced paychecks, and failure to comply with notification laws such as the WARN Act, indicate a severe neglect of labor rights and ethical responsibility. Such practices not only undermine worker trust but also contribute indirectly to an environment where systemic exploitation can flourish, aligning with broader authoritarian practices that devalue workers’ rights.

Attorney Calls Bitwise Treatment of Employees 'Unconscionable,' Preps Lawsuit

The reported $160,000 spent on lobbying by Bitwise Asset Management in 2022 is concerning from an anti-fascist viewpoint. Lobbying can serve as a tool for aligning corporate interests with policy outcomes that may erode democratic norms and facilitate authoritarian practices. While the amount is relatively modest compared to larger corporate spenders, any political lobbying that seeks to influence government policy risks contributing to a broader culture of corporate complicity in authoritarianism.

Bitwise Asset Management Lobbying Profile • OpenSecrets