Two Literal Crypto Bros Built a Real Estate Empire. Then the Homes Started to Fall Apart

RealT, a crypto startup founded by Canadian brothers Rémy and Jean-Marc Jacobson, tokenized approximately 500 properties in Detroit and 200 more across the Americas, allowing 16,000 investors from 150 countries to buy fractional ownership via ~$50 crypto tokens promising up to 12% annual returns. However, the properties have severely deteriorated, leading Detroit to sue RealT for hundreds of blight violations, with city inspectors declaring multiple buildings unfit for habitation due to mold, rodent infestations, and missing safety equipment.