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RE: Arise Bank (ACO), with Decentralized Crypto ATMs en route, Launches ICO

in #bitcoin6 years ago

All of that is correct!

However, there is a reason that this happened, and it has nothing to do with intentionally misleading anyone.

They are buying 3 banking entities, but the two that were listed in the release were not the FDIC insured bank. The reason this happened is because all 3 banking entities are being bought from the same person, and the paperwork they sent over to Arise was not accurate in regard to the FDIC being one of those two, from what I understand.

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See https://goo.gl/S1X3Aw.

How does any of that change the fact that they lied there?

A mistake was made, a press release went out clarifying that days before the raid.
There is paperwork to back up why/how the mistake was made and that the bank deals were legit.

The SEC lied as well, you going to hold them to fire the same way?

How does any of that change the fact that they lied about their relationship with Marqeta?