Read the transcript for this report below. Click here for more coverage of Bitwise Industries.
ELIZABETH ARAKELIAN, HOST: Bitwise Industries filed for bankruptcy this week. KVPR’s Esther Quintanilla tells us more.
ESTHER QUINTANILLA: The tech company filed for Chapter 7 bankruptcy in the U.S. District bankruptcy court in Delaware, where it was incorporated. The voluntary petition names Bitwise Industries Inc. and several associated companies, like Alphaworks Technologies LLC in the case. The filing signifies Bitwise’s intent to liquidate its assets to repay creditors. The Bitwise Board of Directors did not respond to KVPR’s request for comment. The bankruptcy filing follows a slew of lawsuits against the company, including a class action suit from former employees. More recently, an FBI case was launched to investigate the company and its practices.
For KVPR News, I’m Esther Quintanilla
See the bankruptcy filing below.