Bitfinex to refund investors of its failed El Salvador Hilton hotel project
Bitfinex intends to refund all investors but is firstly awaiting a potential new offer from the debt issuer to keep the project alive.
Digital asset platform Bitfinex Securities said it will refund investors of its Hilton hotel venture at El Salvador’s international airport after it failed to attract the $500,000 minimum funding needed to continue.
The project, which marked the first public offering of digital debt assets in El Salvador, only mustered in $342,000 from investors before the first deadline — barely 5% of the $6.25 million it was looking to raise.
“As per the Relevant Information Document, Bitfinex will be refunding all investors,” a Bitfinex spokesperson confirmed with Cointelegraph.
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Author: Brayden Lindrea
