A member of one of the technology startups’ teams complained that the employer is attempting to recoup the cryptocurrency previously charged in the form of salaries. The explanation for this was a significant rise in the price of tokens.
According to him, he signed a deal with this organization in the spring of 2020. The payment for the job would be made in cryptocurrency.
The contract included a provision for future payment in dollars, but the employee scratched it out before signing. He will obtain the cryptocurrency in August 2020. What a surprise it was when the boss later demanded that he return the tokens he had got.
The employee mentions that he is well acquainted with his boss. I’ve known him for a long time, but I didn’t expect him to get an e-sale with a demand to return the money after the price of cryptocurrency increased by 700%.
The employer stated in the letter that the startup employee did not contribute any profits to the company and actually does not do any additional work.
It should return all cryptocurrency earned in August 2020 and bill in dollars for the time worked in this regard. Simultaneously, the payment balance on the account would be 7 times less than the current value of the cryptocurrency issued in August.
MarketWatch reported this amusing tale. Eugene Lee, a labor law expert, weighed in on her. A deal, he said, was a contract. No one, let alone arbitrarily, has the authority to amend its provisions.
ETH is the cryptocurrency featured in the literature, despite the fact that it is not named most possibly. Since August, the price has risen by 790 percent.