Hedera Hashgraph to Raise $100M

CEO says that attracted funds will go on to further develop the public register of Hedera
02 August 2018   1119

The blockchain start-up Hedera Hashgraph has completed a new round of funding, raising $ 100 million to further development of the distributed network and ecosystem of decentralized applications.

In the future, the startup will conduct a public ICO for accredited investors with a $ 20 million hardcap. It is noted that one of the investors in this round will be Ari Paul of BlockTower.

The attracted funds, according to the CEO Mans Harmon, will go on to further develop the public register of Hedera and will solve market problems that prevent the mass distribution of this technology.

We add that earlier Hedera Hashgraph raised $ 18 million on a closed sale of tokens.

CEO AriseBank Admitted to Fraud

Now Jared Rice faces up to 120 years in prison, however, confession may reduce this period to 20 years
22 March 2019   150

AriseBank CEO Jared Rice confessed to deceiving investors for $ 4.2 million in cryptocurrency. The plea agreement filed in the federal court of Dallas, Dallas News кузщкеы.

According to the document, Rice promised investors a "guaranteed return" of up to 20% of the invested funds, as well as opening bank accounts insured by the Federal Deposit Insurance Corporation and Visa-related debit and credit cards, although he did not have agreements with these companies.

The $ 4.2 million received from the ICO Rice spent on his girlfriend, lawyers, as well as on hotels, food and trips by Uber.

It is noteworthy that Jared Rice’s plea for cryptocurrency fraud was one of the first of its kind in the United States.

Now Rice faces up to 120 years in prison. However, confession may reduce this period to 20 years. Also, the organizer of the scheme will have to pay damages to deceived investors.

The final verdict on the case will be delivered on July 11.

Jared Rice was arrested in November 2018 on charges of fraud with unregistered securities and fraud using electronic means of communication. In December, the US Securities and Exchange Commission (SEC) obliged him and Stanley Ford, co-founder of AriseBank, to pay about $ 2.7 million as part of the settlement of the charges.