A company paid an employee for his work done in cryptocurrency. However, after the price of the cryptocurrency skyrocketed 700%, the employer wants the coins back, offering to pay the employee in U.S. dollars instead.
Employer Wants Crypto Back After It Rose 700%
Marketwatch published a letter to The Moneyist columnist, Quentin Fottrell, Monday from someone asking for advice about crypto payments he received from his employer. The Moneyist is a service that provides answers to all sorts of dilemmas, and Fottrell is the publication’s personal finance editor as well as The Moneyist columnist.
The letter was signed “Crypto Confused,” who explained that he did some business development work for a tech startup “on a contract basis.” The company is still trying to generate its first dollar in sales, he noted.
“The purpose of the contract was to generate sales and it included a commission component, but the understanding was that I would bill…