2024

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 A couple of weeks ago, a new securities offering was added to <a rel="noopener noreferrer nofollow" title="Bitfinex" href="https://thebittimes.com/tag/bitfinex.html">Bitfinex</a> Securities, intended to raise money to build a Hampton hotel near an airport in <a rel="noopener noreferrer nofollow" title="El Salvador" href="https://thebittimes.com/tag/el-salvador.html">El Salvador</a>.
 The offering hoped to raise $6.25 million in 30 days, however, over halfway through, only $342,000 has been raised, according to the <a rel="noopener noreferrer nofollow" title="Bitfinex" href="https://thebittimes.com/tag/bitfinex.html">Bitfinex</a> Securities website.
 This hotel offered unusual ‘benefits’ to investors, including offering free nights if you invested enough, and up to unlimited stays over the five-year bond term if you invested at least $1 million.&nbsp;
 Furthermore, the ‘Market Study Update’ issued by Horwath HTL and distributed alongside this offering submission suggests that the hotel is projected to make $2.7 million in total revenues. This is somewhat surprising as construction is yet to be completed, and the fundraising documents on <a rel="noopener noreferrer nofollow" title="Bitfinex" href="https://thebittimes.com/tag/bitfinex.html">Bitfinex</a> Securities state that construction will take “less than 12 months,” leaving little time to hit that target.
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 A quick check in on BitFinex’s “next generation of capital markets” first tokenized debt capital raise in <a rel="noopener noreferrer nofollow" title="El Salvador" href="https://thebittimes.com/tag/el-salvador.html">El Salvador</a>. Half way the 30 day offering period, BitFinex has raised a whopping $342,000 for the <a rel="noopener noreferrer nofollow" title="El Salvador" href="https://thebittimes.com/tag/el-salvador.html">El Salvador</a> Airport Hilton. That’s just 5% of the target $6.25mm they… pic.twitter.com/P4HCQpK6I3— Novacula Occami (@OccamiCrypto) May 30, 2024
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 Read more: Bitfinex Securities hasn’t seen a single trade in two months
 Bitfinex Securities has struggled to convince anyone to regularly use the exchange. The blockstream mining note offered on the exchange hasn’t had a trade occur since November 13 last year. The Mikro Kapital offering sees slightly more activity, with sometimes up to eight trades occurring in a single day, though more typically it sees between zero and two trades.
 Protos has reached out to Inversiones Laguardia to determine if it will be able to proceed with construction if this fundraise fails; at press, it has yet to respond.&nbsp;
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Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/hampton-hotel-flops-on-bitfinex-securities-tbt90776.html">https://thebittimes.com/hampton-hotel-flops-on-bitfinex-securities-tbt90776.html</a>

Hampton Hotel flops on Bitfinex Securities

TheBitTimes

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