Yesterday, the business section of El País, the Spanish newspaper of record, published this story.
It details how now people are investing in “tokens” using the blockchain, in something that looks pretty much like a regular REIT to me. 12 % average annual return, 6 % to 10 % MER. I already know the end of this movie.
I’ve contacted the local regulator (the Spanish SEC if you want) and asked them if they have published any information about this scam very sophisticated product.
I was wondering if this is also a thing outside of Spain. We can’t have been the first ones to invent this shit.
If you can’t access it due to the paywall I can send you a PDF, just DM me.
“12 foot ladder” helps with the paywall on this one. The article is written in a highly credulous tone. I would have appreciated an interview with someone that was actually receiving income and money in Euros out of the scheme. Like, money money.
At the end - Boston Consulting says that 10% of the market will be tokenized. Sure.