For anyone that followed the AriseBank/Coin updates. They might have come accross a letter, a cease and desist order issued by the Texas state department, stating that they violated their laws by falsly calling themselves forth as a banking institute. Jared Rice, the CEO of AriseBank, in return wrote back a letter stating how they were decentralized, and how they would "respectfully oppose your mission to enable slavery amongst Texas residents" as literally written down by Mr. Jared himself.
Arise Governance - We The People - A Response to the Texas Banking Commissioner
Well... they just got a cease and desist order and the site is currently shut down; https://www.dob.texas.gov/public/uploads/files/Laws-Regulations/orders/2018-001.pdf
!!! EDIT: The article above is the cease and desist order issues on January the 5th. The order being set to effective is of January the 26th, referring to: http://www.4-traders.com/news/Texas-Department-of-Banking-Commissioner-Issues-Cease-Desist-Order-Relating-to-AriseBank--25879243/
I think this is the same post from early January. Plus I do not see them getting shut down. In America you can fight for the validity of your project and i think jared and the team plan to do that.
Wow, I dont think they are shut down, but definitely interesting to watch the gov get salty about the names of projects like they have a monopoly on the name sheesh. I hope jared has a good legal team and wins for all of crypto
The site is currently shut down, and there hasn't been any activity on their Twitter page since (one would expect an immediate announcement in a case like this). There were already so many red flags before this happening, pointing AriseBank towards the likelihood of being a scam. Wouldn't count too much on it coming back...
Ico webpage is still running and lots of activity on Telegram. Arisebank is not a scam but a hell of a fight to make this dream come true, it will take time for sure.
ICO webpage was on arisecoin.com? Cause I can't find any working link right now. I haven't checked their Telegram, have they made any statements since this happening? I am pretty confident it to be a scam myself, although maybe I shouldn't tagged this post so, seeing as this is mostly ment addressed towards the cease and desist order being set to effective.
Talk with Jared, CEO, after the facts
FLV: https://ufile.io/0hx4t
MP3: https://ufile.io/zbykb
For those that missed Connie's On-Air interview with Jared Rice Sr.
I wish for the facts to be known and with that said i can't say for sure it's a scam. I wish to see how they proceed moving forward because im sure we can all agree with that texas news they will need a big back bone!
It was a scam from the very beginning, I am sorry for people that naive believed in it. My friends got money back via Paypal - so if you invested through Paypal just contact them and you will receive your money back
I feel bad for people who invested in their ICO, hopefully they get their money back
Hopefully, cryptocurrencies become a part of the current monetary system. Such news is not very encouraging for me personally.
crazy!!! thank you for sharing it!!! great info
This is old news.
Sorry for the confusion! The cease and desist order was set effective on January 26th, which is referring to: http://www.4-traders.com/news/Texas-Department-of-Banking-Commissioner-Issues-Cease-Desist-Order-Relating-to-AriseBank--25879243/. (post has been edited)
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