The startup blockchain The CEO of AriseBank is facing up to 120 years in prison for deceptive investors in a cryptographic scam. According to The Next Web, Jared Rice defrauded investors for $ 4 million after claiming that the company would become the "first decentralized banking platform" – offer FDIC insured accounts and banking services, as well as Visa-branded credit cards and other cryptocurrency services. In fact, he was spending his investors' bitcoins on hotels and clothes. He also claimed that the company's initial offer of coins (ICO) raised $ 600 million (raised only $ 4 million), and did not disclose that he had pleaded guilty to criminal charges in connection with a & # 39; other activity on the Internet. The US Securities and Exchange Commission (SEC) closed AriseBank in March.
In other news, people can start extracting encryption in the comfort of their home without having to invest in a huge car. According to reports, Coinmine One (which costs $ 799), created by Farbood Nivi, allows users to choose a cryptocurrency for mine, then run it on the CPU and integrated GPU. The device features an Intel Celeron Processor J Series processor and an AMD Radeon RX570 graphics card, as well as a 1TB unit to hold the blockchains needed for currency management.
Another new product is ready for launch: Blockchain phone Finney should start shipping in late December. According to CoinDesk, Sirin Labs promised an event in Barcelona to bring the user experience of decentralized apps (dapps) to the next level with its new product. The company has partnered with Foxconn to produce the phones, which will sell for a retail price of $ 999. Holders of the token sirin (SRN) can pre-order the device now, with additional payment channels expected to be published soon.
The owner of BitTorrent TRON has promised to spend $ 100 million in blockchain games over the next three years. The company wants to enhance innovation in blockchain and cryptocurrency through mobile games. "Our mission is to bring the blockchain to the mass market," said Roy Liu, Head of Commercial Development at TRON, according to Venture Beat. "Games have paved the way for smartphones and virtual reality to be more accessible Now, it's happening with blockchain." Launched a year ago, TRON's TRX currency is one of the 10 most important encrypted, with a valuation of $ 994 millions.