Summary
Ketju does not approve RealT Tokens: the platform is in voluntary liquidation. RealT sold fractional ownership of single rental properties, mostly in Detroit, through a Delaware series LLC for each property. It paid weekly rental income in stablecoins. The City of Detroit sued in July 2025 over 408 properties it alleged lacked compliance certificates. RealT suspended investor payouts in February 2026, telling investors “the model no longer works.” A court appointed a special fiduciary over roughly 700 properties in April 2026. On 2026-07-02, RealT’s co-founder announced voluntary liquidation of the whole ~$140M portfolio. Reporting also documents false claims about deeds and occupancy. Investors are pursuing a French class action, and a criminal fraud complaint has been filed with the Paris judicial court. Because the wind-down is active, Ketju reviews this memo every 30 days instead of quarterly.
Review triggers
- The voluntary liquidation ends, and Ketju reviews any successor company or product anew
- The Detroit litigation and any related fraud investigation end with a public, reviewable outcome
- A comparable successor platform shows verified deed ownership and occupancy reporting, correcting the false claims documented here
- Any successor operates for twelve consecutive months with no collapse of property management and no suspension of investor payouts
Facts
- Verdict
- Not approved
- Type
- Other
- Chains examined
- Gnosis
- Reviewed
- Last confirmed