CoinVoice recently learned that according to CoinDesk's investigation, the real estate crypto project Tangible has undisclosed related transactions. Joshvun Singh, the brother of the company's CEO Jagpal Singh, purchased properties at a discount through his company and then resold them to Tangible at a markup of up to 21%. This practice is considered by British real estate experts to lack reasonable basis.

In October 2023, Tangible’s USDR stablecoin suffered a run, which caused its liquidity reserves to be exhausted and the price of the coin to plummet from $1 to $0.5. CoinDesk analysis shows that the undisclosed markup may have caused USDR investors to lose at least £875,590, and the actual loss may be higher.

Tangible said it was "working hard" to get USDR investors compensated but declined to answer detailed questions. The company currently needs to liquidate nearly 200 UK properties, with a total value of about £27 million, to repay investors. [Original link]