{"id":132796,"date":"2024-07-10T12:00:06","date_gmt":"2024-07-10T09:00:06","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=132796"},"modified":"2024-07-10T12:00:05","modified_gmt":"2024-07-10T09:00:05","slug":"worlds-largest-crypto-index-fund-manager-faces-2m-lawsuit","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/worlds-largest-crypto-index-fund-manager-faces-2m-lawsuit\/","title":{"rendered":"World&#8217;s Largest Crypto Index Fund Manager Faces $2M Lawsuit"},"content":{"rendered":"<p>The dispute began with the family\u2019 $1.3 million investment in the Bitwise HOLD 10 Private Index Fund in 2018.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/cimg.co\/wp-content\/uploads\/2024\/07\/09214714\/1720561634-screenshot-2024-07-09-224643.png\" alt=\"Breaking: Bitwise Faces Multi-Million Dollar Lawsuit Alleging Fraud, Negligence, and 'Pump and Dump' Scheme\"><\/p>\n<p>Tensions rose in 2020 when Bitwise proposed converting the fund to a publicly traded entity on OTC markets and increased management fees by 25%, which the plaintiffs claim left them with no real choice but to accept unfavorable terms.<\/p>\n<p>Additional investments totaling $4.85 million in 2021 under allegedly misrepresented terms led to a financial loss of nearly $1.93 million.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/malta-court-charges-former-crypto-com-officer-with-extortion\/\" title=\"Malta Court Charges Former Crypto.com Officer with Extortion\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/Handcuffs-crime-1200-240x170.jpeg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Malta Court Charges Former Crypto.com Officer with Extortion<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>The lawsuit accuses Bitwise of breach of fiduciary duty, negligence, fraud, and other charges. Bitwise denies the allegations, stating that Theodore Mukamal has a history of legal threats for personal gain and had acknowledged the risks of investing in their funds.<\/p>\n<p>This legal battle could set important precedents for crypto fund management and investor communication transparency. Bitwise also issues the spot Bitcoin ETF, Bitwise Bitcoin Fund (BITB), which has attracted significant investment.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitwise Asset Management faces a lawsuit from Vandelay Industries on behalf of a family, accusing the company of financial misconduct and seeking $2 million in damages.<\/p>\n","protected":false},"author":3,"featured_media":84024,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[26],"tags":[],"class_list":["post-132796","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocrime"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>World&#039;s Largest Crypto Index Fund Manager Faces $2M Lawsuit<\/title>\n<meta name=\"description\" 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