> AriseBank announced Thursday it was correcting an announcement made the prior week about the acquisition of an FDIC-insured bank. Wow, I checked the links to

> AriseBank announced Thursday it was correcting an announcement made the prior week about the acquisition of an FDIC-insured bank. Wow, I checked the links to find this. First [1] they claimed: > AriseBank now holds 100 percent of the equity in both KFMC Bank Holding Company, a 100 year-old commercial bank, and TPBG, a 25 year-old investment banking and management firm. > As part of this acquisition, AriseBank can now offer its customers FDIC-insured accounts and transactions, and gain a strong backing for crypto aTMs™ which will grant consumers to easily convert and withdraw cryptocurrencies in U.S. Dollars. Then a week later they "corrected" [2] the announcement: > Because of the decentralized nature of the AriseBank software, it is wholly unnecessary for the platform to be FDIC regulated or insured as the individual users maintain full control of their funds. The company is currently in the process of acquiring two U.S.-based companies, KFMC Bank Holding Company and TPMG. KFMC Bank Holding Company is the owner of a 100-year old US commercial bank and TPMG is a 25-year old investment bank. The name of the actual FDIC-insured bank being acquired will be announced once all paperwork has been filed with the FDIC and regulators have approved its status. This really getting out of hand. [1]https://www.prnewswire.com/news-releases/arisebank-announces-first-ever-acquisition-of-traditional-banks-by-a-crypto-platform-expects-ico-to-exceed-1b-due-to-popular-demand-300584461.html https://www.prnewswire.com/news-releases/arisebank-announces... [2]https://www.prnewswire.com/news-releases/arisebank-announces-correction-on-recent-company-news-citing-fdic-status-and-acquisitions-300588303.html https://www.prnewswire.com/news-releases/arisebank-announces...