SEC to oblige AriseBank to Pay $2.7M

In November, FBI agents arrested project's founder Jared Rice
13 December 2018   721

The US Securities and Exchange Commission (SEC) ordered the founders of the AriseBank cryptocurrency project, Jared Rice and Stanley Ford, to pay about $ 2.7 million as part of the settlement of fraud charges. It is reported by CoinDesk.

The founders of the project accused of fraud must pay about $ 2.3 million to return the illegally obtained profits, and $ 68,423 as compensation for the percentage of the pre-trial costs. Jared Rice and Stanley Ford are also required to pay $ 187,767 each as a fine.

In addition, they agreed to a lifelong suspension from management positions in public companies and from participation in the distribution of securities. Jared Rice and Stanley Ford did not reject their guilt, but did not agree with the accusation.

In January the SEC, through a court, obtained the suspension of the ICO project AriseBank. In November, FBI agents arrested Jared Rice. He is accused of frauds with unregistered securities and fraud using electronic means of communication.

EOS to Buy $30M Worth Domain For Its Social Network

Earlier, CEO reported that his company will spent about $150M to develop Voice, and looks like "voice.com" purchase for $30M is one of the first steps
19 June 2019   146

The Block.One company, known for developing the EOS blockchain protocol, acquired a domain for its new social network Voice for $ 30 million. This is evidenced by documents published on the website of the US Securities and Exchange Commission (SEC).

Documents were provided by MicroStrategy, an analytical and mobile software provider. It follows the “voice.com” domain, registered in the GoDaddy domain name registry, was transferred to the EOS developer on May 30, 2019. After 2 days, Block.One officially announced preparations for the launch of a social network.

Block.one has made a smart strategic decision in choosing Voice.com to be the internet domain name for its new social media platform. The word ‘voice’ is simple and universally understood. It’s also ubiquitous — as a search term, it returns billions of results on the internet. An ultra-premium domain name like Voice.com can help a company achieve instant brand recognition, ignite a business, and massively accelerate value creation.
 

Marge Breya 

Senior Executive Vice President and Chief Marketing Officer, MicroStrategy Incorporated. 

The commercial model of MicroStrategy is based, among other things, on the accumulation and sale of such expensive domain names.

According to Block.One, the identification of users and the use of the EOS blockchain in the social network will help to avoid the massive influx of bots, which often affect other members of this niche. Earlier, CEO Block.One Brendan Blamer reported that his company spent about $ 150 million to develop Voice.