💬 NYT reported on the legal proceedings of Bitcoin industry veteran Brock Pierce in Puerto Rico

Back in 2017, Pierce planned to revitalize Puerto Rico's economy using cryptocurrencies. During this time, the entrepreneur bought at least 14 properties, including the hurricane-damaged W Beach Resort, the Monastery Hotel, a hospital in the city of Humacao and an NFT art gallery.

However, instead, Pierce was mired in legal disputes and struggles with his business partners, the publication writes. At least three lawsuits against the businessman are pending in local courts. Friends and colleagues speculate that Pierce is running out of money, but he denies financial difficulties and says he is enthusiastic about becoming a force for progress in Puerto Rico.