Developer Turns to Blockchain Investment While Working to Cure Default on Malibu Home

Malibu’s oceanfront real estate market is drawing renewed attention as the former home of Kanye West begins its conversion into a membership-based property backed by cryptocurrency investments.

The residence at 24844 Malibu Road , designed by renowned architect Tadao Ando, was purchased last September by Belwood Investments CEO Steven “Bo” Belmont for $21 million after West stripped the interior down to its structural shell. Belmont is now promoting the 4,000-square-foot waterfront home through Populis, a new club that offers members what it calls “partial economic ownership” in high-profile properties, according to Realtor.com.

Memberships, marketed toward affluent architecture enthusiasts, allow p

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