Bitfinex will refund investors for the failed El Salvador Hilton hotel project
Bitfinex Securities said it would refund its investors in the El Salvador International Airport Hilton project after failing to attract the minimum $500,000 needed to continue operations.
The project was El Salvador's initial public offering of digital debt assets, but only raised $342,000 from investors before the first deadline, just 5% of the $6.25 million it hoped to raise.
The funds are designed to fund the construction of the Hilton Hampton Inn, a 4,500-square-foot hotel divided into five floors with 80 rooms, a restaurant, work area, swimming pool, gym, and gardens.