IATSE Local 728 Makes History as First Private-Sector Union to Invest in Bitcoin

Bitcoin Magazine

IATSE Local 728 Becomes First Private-Sector Union to Invest in Bitcoin

IATSE Local 728, a chapter making up 3,000 members of The International Alliance of Theatrical Stage Employees, Moving Picture Technicians, Artists and Allied Crafts of the United States, Its Territories, and Canada, has actually made a considerable improvement by performing its first financial investment in Bitcoin, as reported in a news release dispersed to Bitcoin Magazine. This choice, which got considerable support from union members, was assisted in by Proof of Workforce, a not-for-profit company devoted to informing unions on incorporating Bitcoin into their monetary practices.

IATSE Local 728 has actually typically promoted for service, strength, and uniformity. The choice to invest in Bitcoin falls in line with its objective to make sure monetary security for its members. The union mentioned, “Today, we make history as the first private-sector labor union in the country to put Bitcoin on our balance sheet and hold it in self-custody.” This effort was led by Treasurer Pascal Guillemard, previous Executive Board Member Jason Lord, and existing Board Member David Graves, in collaboration with Proof of Workforce creator Dom Bei.

The IATSE Local 728 Bitcoin Advisory Board specified, “IATSE Local 728 has led the entertainment industry in safety, technology, and training since 1939. Our members have been the proof of work behind the greatest productions in history—now, we’re bringing that same innovation to finance. As the first private-sector labor union in the country to put Bitcoin on its balance sheet and hold it in self-custody, we are taking a stand for financial security and labor empowerment.”

Further stressing its tactical technique, the union articulated, “This is about protecting the value of our members’ labor. Bitcoin isn’t just an asset; it is the most secure, decentralized financial network in the world, immune to manipulation and inflation. As governments continue to print money and financial institutions diminish wages, we are asserting control. This is not a gamble; it is a strategy. We are learning, building, and leading.”

Additionally, IATSE Local 728 views this financial investment as a transformative action towards rejuvenating the labor motion. “For far too long, unions have operated defensively in a system that is inherently disadvantageous to workers. That era is over. With Bitcoin, we are not merely negotiating contracts; we are securing economic freedom. We are establishing the standard. We are taking action. We are demonstrating that unions do not merely advocate for present conditions; they build for the future.”

As part of its dedication, a devoted committee will be formed to examine how Bitcoin can use long-lasting security for the members and their households, making sure extensive combination of the union’s assistance into the Bitcoin network.

Proof of Workforce applauded the management of IATSE Local 728 in embracing Bitcoin as a reserve property, mentioning, “At Proof of Workforce, we recognize that within every organization exists an individual who has identified the true potential of Bitcoin. Our mission is to equip that individual with the necessary resources to facilitate responsible and educational integration within their organization. IATSE Local 728 embodies the Proof of Work accomplished by exemplary talent in the entertainment sector. Their members have consistently delivered exceptional standards in motion picture and television lighting. They are now exploring an innovative network that aligns with the values and proof of work exemplified by their workforce. It’s now Lights, Camera, Bitcoin!”

As the first private-sector union to integrate Bitcoin into its monetary method, IATSE Local 728 is developing a criteria that might inspire other private-sector unions throughout the country to pursue comparable courses.

In an associated advancement, Dom Bei just recently revealed his candidateship for a position on the board of the California Public Employees’ Retirement System (CalPERS), introducing his project with strong recommendations from California lawmakers and Vancouver Mayor Ken Sim.

I’ve committed over a years to promoting employees and wage-earners.

Now, 𝐈’𝐦 𝐫𝐮𝐧𝐧𝐢𝐧𝐠 𝐟𝐨𝐫 𝐂𝐚𝐥𝐏𝐄𝐑𝐒 𝐁𝐨𝐚𝐫𝐝 𝐨𝐟 𝐓𝐫𝐮𝐬𝐭𝐞𝐞𝐬 to safeguard our country’s biggest public pension, serving 2M+ individuals! pic.twitter.com/qgbocBVTAI

— Dom Bei (@Beiwatch1) March 12, 2025

This short article talking about IATSE Local 728’s pioneering financial investment in Bitcoin initially appeared in Bitcoin Magazine and was authored by Nik.

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