Bitwise Industries Faces Turmoil and Uncertainty Amid CEO Shake-Up and Business Model Criticism.

The CEOs and co-founders of Bitwise Industries, a Fresno tech incubation and training startup, have been fired as the company faces financial troubles and furloughs all 900 of its employees. The board of directors voted to fire the co-founders as they conduct an investigation into the circumstances surrounding the company’s collapse. Bitwise had raised $180 million in funding over the last decade, but reports indicate that the company had failed to pay its city business license taxes and was behind on lease payments.