LendConnect to Launch Internal Exchange

The Internal Exchange v1 and v2 will be combined into one release on February 25 instead of February 14 as it was initially planned
12 February 2018   1341

LendConnect has co-owned multiple USD lending platforms (not cryptocurrency), and now aims to let users trade, stake and invest crypto in lending programs on its platform. 

Initially, LendConnect planned to release the Internal Exchange on February 14, but has made a decision to slightly delay it, and the Internal Exchange v1 and v2 will be combined into one release on February 25.

This means that there will be one update instead of a separate v1 and v2 update in order to include live updates and get rid of the manual control within the exchange.

LendConnect Internal exchange previewLendConnect Internal Exchange Preview

The Internal Exchange will include new wallets, live updates, will have no Ether fee, and many other things, which will be announced later.

At the moment of press, these are main market parameters of LendConnect:

Average price: $1,16
Market cap: $2 513 614
24h volume: $133 400

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   75

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.