An employee who was paying in cryptocurrency was left speechless when their employer demanded that they return it because its value had increased by more than 700%.
When an employee at a tech start-up was forced to return their cryptocurrency-based compensation because its value had skyrocketed, she was taken aback.
The worker is estimated to have earned their payment in August 2020, and the value of the cryptocurrency has increased by over 700% since then, implying that they have amassed a small fortune. Their boss now wants it back.
The anonymous employee claimed to have previously worked for the CEO. According to Marketwatch, they recently received an email stating that they should return all of the cryptocurrency they had received because they had failed to produce revenue for the business.
In exchange, the employee will be compensated in US dollars for the job they completed.
“Basically, I’m saying that I can invoice in USD for seven times less than the crypto is worth right now,” the worker explained.
They continued, “I’m at a loss about what to do. I’ve known this guy for a long time, and he has a habit of trying to adjust the terms of payment after we’ve agreed on a method of operation. What do you think a reasonable solution is? May I give back some of the cryptocurrency in exchange for the hours I worked? What do I say to this potential employer?”
People did not believe the employee should be required to return the funds.
A Twitter user enquired, “Will they pay you the difference if the value dropped? No, I don’t think so!”
According to another user, “It’s a one-time reward for a job well done! Nobody has the right to ask for it back. This is not the kind of company where you want to work.”
A person wrote, “Tell him he needs to get lost. What a knucklehead for even attempting to put that on.”
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