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
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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...
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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.
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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.
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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.
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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!
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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
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I feel bad for people who invested in their ICO, hopefully they get their money back
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Hopefully, cryptocurrencies become a part of the current monetary system. Such news is not very encouraging for me personally.
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crazy!!! thank you for sharing it!!! great info
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This is old news.
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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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