The Curious Case of AriseBank

Last week the SEC raided the offices and homes of the officers of cryptocurrency startup AriseBank. AriseBank was in the middle of its ICO for its coin AriseCoin (ACO) and the SEC is arguing that the company was improperly selling a security.
All of AriseBank’s assets and hardware have been seized. CEO Jared Rice gave a recent interview describing the raid. “I got woke up with guns pointed at me. So, you know, put your hands where we can see ’em, so obviously we did. It was pre