A new lawsuit filed Wednesday seeks $33 million from Bitwise Industries for a failed business venture. This is the latest negative financial news for the Fresno-based tech/real estate company, which furloughed its staff of about 900 employees on Monday. Filed by Texas-based NICbyte LLC, the lawsuit alleges that Bitwise and several of its subsidies 'concealed from Plaintiff their intentional breaches of the joint venture agreement and self-dealing to the tune of tens of millions of dollars, in violation of their duties under the joint venture agreement, wherein — among others — Defendants encumbered the assets of the joint venture with unauthorized loans accruing to their personal benefit.

https://gvwire.com/2023/05/31/bitwise/

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