RealToken Shuts Down Amid Operational Failures and Investor Complaints

RealToken, a blockchain platform that allowed investors to buy fractional ownership of US real estate through crypto tokens, is shutting down after years of operational failures and investor complaints. Co-founder Jean-Marc Jacobson announced on July 2 that the company would voluntarily liquidate its entire $140M portfolio.

The majority of RealToken's assets, around 700 properties worth $83% of its total holdings, are single-family homes in Detroit. However, these properties have been plagued by code violations, unpaid taxes, and blight fines from the City of Detroit.

Reports indicate that investors, including 14,000 in France, are now left wondering how much they'll get back after the company plans to sell off its assets. Class-action lawsuits are being organized, and possible criminal complaints are being filed in France.