CryptoUS

Bitwise Layoffs

June 2023

Bitwise announced a layoff affecting 900 employees (100% of its workforce) in June 2023. The company operates in the Crypto sector.

People Affected

900

Percentage

100%

Announced Date

Jun 14, 2023

About

Bitwise Industries, a Fresno-based technology and workforce development company, laid off all 900 of its employees on May 31, 2023, effectively collapsing the entire company. This mass layoff, representing 100% of its workforce, followed temporary furloughs announced just days earlier. The company attributed the action to "unforeseeable business circumstances," signaling a sudden and complete shutdown. Founded in 2013, Bitwise had raised over $150 million and expanded into multiple cities, including Bakersfield, where it had acquired properties and a local business. The collapse left significant questions about the future of its operations and community contracts.