๐Bitfinex Securities' ambitious Hilton hotel venture in El Salvador hit a snag, raising only $342K of the $500K required to proceed. That's just 5% of the $6.25M they aimed for. ๐คฆโโ๏ธ But hey, every cloud has a silver lining. They're refunding all investors! ๐ฐ
๐จThe funds were meant for a swanky Hampton by Hilton hotel with 80 rooms, a pool, gym, and more. Investors had to buy the "HILSV" token on the Bitcoin layer 2 Liquid Network. A minimum investment of $1K promised a 10% coupon over 5 years. ๐โโ๏ธ๐๏ธโโ๏ธ
๐ธ๐ปEl Salvador, the Bitcoin pioneer, had granted Bitfinex a digital asset service provider license as part of its strategy to tokenize real-world assets. Despite the setback, the country continues to innovate, with plans for Bitcoin-friendly investment banks. ๐ฆ
๐ฌWhat do you think about this venture? Is it a bump in the road or a sign of things to come? Share your thoughts below! #DeFi #Web3 #Technology #Bitfinex #ElSalvador #Bitcoin