Investors can get a refund on Bitfinex’s failed El Salvador hotel offering
Investors in Bitfinex ’s Hampton Hotel securities offering are reportedly entitled to a refund after its fundraiser failed to meet its $500,000 goal to build a hotel near El Salvador ’s airport. Local news outlet El Salvador.com reported that the ‘Relevant Information Document’ on the HILSV token used in the public offering has a clause that allows investors to refund their investment should the fundraiser fail to hit its target. The document, published on May 13, says a refund is available if either, “the minimum amount (minimum amount necessary to carry out the project), which for this issue will be five hundred thousand US dollars ($500,000.00), is not reached at the end of the public offering or (ii) if the issuance of the digital assets is canceled.” The token has only reached $342,000 since its launch on May 13. That’s $158,000 shy of the minimum sum required by the June 11 deadline. It had hoped to reach a total of $6.25 million. Hampton Hotel flops on Bitfinex Sec...