Update: Arise Bank Raid Story Confirmed
Update: Turns out compelling evidence against the Arise team exists. The court case will probably last forever. I still remain on the fence whether this is a scam or not, as I've seen second hand what a determined government with unlimited resources is capable of orchestrating.
Source
Update: Arise Bank Raid Confirmed
If you're not up to date on this historic event, I recommend reading this first. The worlds largest ICO have been shut down as the developers HQ have been raided. More than 800 million USD have been confiscated by authorities.
Official Government Documentation on the Arise Bank Raid was released in their Telegram chat earlier today. It included a 15 page document issued by the SEC. I will not risk sharing it due to legalities, but it appeared to be legit (oozing of bureaucracy).
Just hours later, CNBC is out with their own article confirming the official Arise Bank story.
This is both good and bad news for everyone in the crypto space. The good news is that David has risen to the test against Goliath, and the first project to challenge the banks legally turns out to be legitimate. The supporters are coming together in the Arise Telegram chat, as the official home page still remains offline after being taken down by authorities.
The community have collected upwards of $1.000.000 earmarked for Arise’s defence. One may speculate in why the ICO funds were not managed in a way that would secured some funding to be used if/when this would happen (it was pretty obvious something like this were to happen at some point). I expect there to be a reason for all of this. Time will tell....
The bad news is that this fight has already gotten bloody, and both contenders have yet to enter the ring... The government and the banking industry are coming down upon Arise Bank with great vengeance and furious anger, and one can only hope the Arise team have wrapped their hands and sealed their gloves tight, because this is going to be one hell of a fight!
Boxing legend Evander Holyfiled has endorsed Arise Bank.CNBC Article confirms Arise Raid Story
Coindesk's Report
Article written by @holoz0r
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Interesting. I haven't been following this at all but it seems like today was a big day for crypo in general. Issues with Tether and Bitfinex and a few other things have the crypto market dropping quite a bit today. We will see what happens with all of this in the next few days/weeks I guess.
Yeah, another bloody day at the exchanges. I wonder if we're nearing the 8k prediction some people are rolling with. Apparently there's supposed to be a lot of support around there. I've even heard predictions of flashcrash to 3k, but that sounds a bit extreme to me...
I guess they were right. it did hit around $8000 give or take a few hundred lol. wow. A flash crash of $3000 would be crazy. I would hope I could time it right and buy more. I think most people know it wont stay low forever, it will moon again and probably go even higher then its previous max. I've heard talk about $100K by end of 2018. Not sure if its true but it wouldn't surprise me. we will see
Nothing really surprises me in this space anymore. Exciting times to be alive! Dancing the crypto dance with crossed fingers ;-)