Steven Seagal Left Bitcoiin2Gen ICO After $75M Raised

It is stated that this step was taken within the plan, which assumes complete anonymity of this cryptocurrency
27 March 2018   1375

The Bitcoiin2Gen project announced that its founders and brand ambassador, Steven Seagal, left the organization after the ICO campaign was completed.

The official website of the project says that during the ICO $ 75 million was collected. This amount was the called Soft Cap, and at the moment visitors to the site are greeted with a message that there is still some "limited" number of tokens available for sale.

In a press release, the Bitcoiin2Gen team thanks all investors, anonymous founders and personally Steven Seagal.

It is stated that this step was taken within the framework of the plan, which assumes complete anonymity of this crypto currency created on the Ethereum blockchain.

As Bitcoiin goes through the conversion phase from token to mineable coin we wish to advise that Bitcoiin will join the likes of the original Bitcoin and become a truly open source. Therefore a big thank you to the Founders and to our Brand Ambassador whom we wish all the best in their future endeavors. However, from this point on Bitcoiin will function within its ecosystem and become a genuinely anonymous cryptocurrency with no individual or individuals having control over the entity!
 

Bitcoiin2Gen team

Earlier the project was severely criticized and compared to pyramid schemes, however, as stated in the press release, the commission structure operated only for the duration of the ICO and served as a way to reward users who promoted it. Representatives of Bitcoiin2Gen also reproached the media for pursuing sensations and comparing the project with financial pyramids.

It is also claimed that upon the completion of the ICO and with the start of the mining, the project founders will designate one or more community representatives who will become legal owners of the bitcoiin. com website.

Earlier this month, Bitcoiin's activities were ordered to stop the by New Jersey Securities Office. In a short time, the same decision was taken by the state of Tennessee.

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.