Under Bankman-Fried, FTX quickly grew to be the third-largest exchange by volume. "I've known him for a number of years and what just happened is just shocking," said Jeremy Allaire, the co-founder and CEO of cryptocurrency company Circle. Bankman-Fried himself could face civil or criminal charges. Now the comments about the 30-year-old Bankman-Fried range from bemused to hostile after FTX filed for bankruptcy protection Friday, leaving his investors and customers feeling duped and many others in the crypto world fearing the repercussions. NEW YORK - Sam Bankman-Fried received numerous plaudits as he rapidly achieved superstar status as the head of cryptocurrency exchange FTX: the savior of crypto, the newest force in Democratic politics and potentially the world's first trillionaire. Now the comments about the 30-year-old aren't so kind. Sam Bankman-Fried received numerous plaudits as the head of cryptocurrency exchange FTX: the savior of crypto, the newest force in Democratic politics and potentially the world's first trillionaire.
The post Tokenized CRE Startup Red Swan Puts Up $2.2B worth of Real Estate on the Blockchain appeared first on Crypto Economy.Signage for the FTX Arena, where the Miami Heat basketball team plays, is visible Saturday in Miami. So they’re focused on riskier, lower class-level projects,” he said. “You have a very large segment of investors who are between half a million and $10 million that were not participating because they just don’t have enough equity to buy a quality piece of real estate. He turned to tokenization as a way to make highly profitable deals more accessible to accredited investors. Nwokedi himself has been in real estate space for 18 years. Nwokedi and his team have a claimed 65-year combined experience in private equity CRE and technology commerce. “I think what kind of happened in the past was there were platforms like Harbor, Propellr and Fluidity, which were really tech companies,” he said adding that “they didn’t really have the real estate background or the expertise to understand how the private real estate market works.” Graeme Moore, Polymath’s tokenization officer seems to think that Red Swan actually is different from its predecessors that have flanked the tokenized real estate industry. “Through this new technology, RedSwan will make the entire process for the recapitalization of LP and GP equity for institutional quality real estate assets much faster, more efficient, and with higher capital productivity,” Nwokedi said. This has led most startups to fail in the face of such challenges, however, Red Swan believes that it has the right team to sell the idea to the market. Tokenizing real estate has proven to be challenging as most of the players in the industry are traditional minds who may be having a hard time wrapping around the idea of a blockchain system. In addition, Red Swan is currently being considered by the commission to become a registered investment adviser allowing it to hold and manage accredited investor funds in the United States. Red Swan CEO Edward Nwokedi has revealed that this sale has been accredited by the US financial markets regulator The Securities and Exchange Commission (SEC). So far, as much as $780 million of that initial valuation is available for presale to interested investors. There are currently about 16 different commercial properties in Austin and Huston, Texas Brooklyn, New York Oakland in California and a massive 150-acre piece of property in Ontario Canada. The New York-based blockchain startup has tokenized $2.2 billion worth of CRE property on the Polymath network. If you are an accredited investor in the United States and you’re looking to grab yourself some commercial real estate (CRE), Then Red Swan has a proposition for you.
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