John McAfee joins Russian blockchain project

One of the most influential figures in the cryptocurrency world, John McAfee, becomes an advisor to Russian Universa project
25 October 2017   4105

The founder of MGT Capital Investments and the creator of the McAfee Security antivirus, John McAfee, joins the committee of advisors to the Russian blockchain project Universa, lead by Alexander Borodich. 

The Universa blockchain platform is a distributed system for executing smart contracts. It provides faster and less expensive transactions compared to Ethereum and Bitcoin.

Without the limitations related to mining that are inherent in Ethereum or Bitcoin, Universa is capaable of handling up to 20,000 transactions per second.
 

Alexander Borodich
Founder of Universa.io

As mentioned by the project team, McAfee is going to use the Universa platform to implement his own blocking project McAfee Coin, with which he hopes to "change the venture capital market".

According to the man, the nature of the blockchain allows creating a chain of trusted transactions, while decentralization of the verification processes can perfectly complement or even replace industry-recognized principles of the information protection.

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.