Great writeup!

Although the presale is not officially open to US citizens, language in the terms and conditions suggests that Arise has made it feasible for US residents to contribute to the ICO so long as the US resident accepts the risk of having no legal basis for filing any kind of damage claim in US courts. It was no problem for me to create a contributor's account.

If Arise had actually purchased the bank they have an "agreement" with, I would definitely buy in to this ICO. But as they are trying to raise $1 Billion in part on their word that a purchase agreement is in place ... well ... I might still buy in, just smaller.