Colorado
Why Is This Colorado Church Putting Its Chapel On The Blockchain?
Thanks to a slick real estate broker, a network of churches in Northern Colorado is embracing blockchain technology to securitize their sanctuary. Pray for its investors.
By Nina Bambysheva, Forbes Staff
In the Middle Ages, the Church held sway over souls with the sale of indulgences—essentially, money in the form of silver or gold coins exchanged for a faster ticket out of purgatory. Fast forward to the 21st century in Northern Colorado, where a different kind of church token is being offered—one that doesn’t promise salvation but instead aims to purchase Fort Collins’ oldest church.
Move over, GoFundMe. Enter a modern twist on community investment, led by local pastor named Blake Bush, who is spearheading an effort to raise $2.5 million for the purchase of the Old Stone Church, a historic 19th-century stone building his community has been renting for the past two years.
Pastor Blake Bush Photo by Colorado House of Prayer
Bush, 57, is no ordinary clergyman. A former franchise salesman and a veteran of 34 years in ministry, he and his wife founded the non-denominational Third Day Church and later established One Hope of Northern Colorado, a nonprofit ministry leading the Colorado House of Prayer. “We’re not a church,” Bush explains. “We are the church, a network of churches working together to bless our community.” The Colorado House of Prayer, currently housed in the Old Stone Church, is a place where volunteers run the show, and anyone can lead a prayer at nearly any hour. Multiple denominations currently rent the space. For example, every Sunday at 2:30 p.m. the Korean High Mountain Church holds a service.
In the summer of 2022, Pastor Bush fell down the crypto rabbit hole when a friend introduced him to XRP cryptocurrency. Ripple Labs, the company that developed the token, once promised that its digital ledger would replace banks in facilitating trillions in global money transfers, but despite XRP being valued at $31 billion by crypto traders, Ripple has accomplished little in the last decade. Intrigued, Bush bought some XRP and soon found himself immersed in the possibilities of blockchain. “I just began to research and listen, trying to figure out what they’re doing, [Ripple’s] lawsuit with the SEC… who’s the SEC, what do they do, and what does blockchain accomplish? Where is this thing going?” He says the idea of tokenizing real estate “entered his thoughts” in February.
“I heard the Lord say ‘’tokenize the building,’”says Bush. “I was like, what? I didn’t even know what that meant. I’ve been interested in the technology, but I could not have formed that sentence because that’s just not in my vocabulary. I’ve been praying for this for years, and God said, ‘Son, go get my house.’”
Enter REtokens of Spokane, Washington, founded in 2022 by Tyler Vinson, 45, whose real estate brokerage firm Extant shares headquarters with the digital asset operation. Vinson, a local realtor who got his BA in Marketing from Eastern Washington University, boasts more than 20 years of experience and is the author of “Freedom Through Cash Flow.” Tokenizing properties like Bush’s Old Stone Church may be just the gimmick needed to inject new life into Vinson’s Spokane Valley real estate practice.
In late May 2024, REtokens and a Swiss-based private blockchain operator Polymesh announced that they would jointly tokenize $30 million in real estate, “delivering enhanced liquidity and a wider pool of investors to the real estate market.” Not mentioned in the press release was the pair’s only other asset tokenization—a $2.25 million preferred stock offering in August 2023 for REtokens itself. According to the private placement memorandum available to accredited investors, more than $150,000 of the proceeds would go toward paying off a loan to Vinson’s Extant, and ReToken’s payroll, which includes Vinson as CEO, would eat up nearly 24% of the funds annually. When you throw in marketing costs, blockchain fees and convention/travel expenses, “corporate costs” were projected to eat up to 40% of the tokenization proceeds in year one.
While there are no specifics in the offering statement about how investors will actually earn a return from their blockchain-based investment in REtokens, the shares were initially priced at 75 cents each, with a minimum investment of $5,000. Vinson’s new blockchain company intends to take $10,000 upfront for new tokenizations, plus up to 0.74% per year in an “equity fee” from new tokens minted. So far, REtokens has raised less than half of the $2.25 million in tokenized preferred stock it began offering a year ago.
Blake Bush’s Old Stone Church is Vinson’s first real estate tokenization. The first phase, launched on Friday, targets accredited investors with a minimum of $50,000 to invest, and is seeking to raise $2.5 million within the first year to buy the 11,457-square-foot stone building. The Old Stone Church is currently owned by one of Blake’s parishioners, Warren Yoder, owner of a Chevrolet dealership and auto body operations in Northern Colorado, who bought it in 2022 for $2.2 million.
Eventually, the Stone tokens will become available on the secondary market, presumably to non-accredited church congregants at $500 per token, with a minimum investment of $1,500. These tokens will trade indefinitely, or as the initiative’s website puts it, “until Jesus returns or the majority of investors and the board decide to sell.” Already, several locals have joined Old Stone’s board including the mayor of nearby Severance, Colorado, a mortgage broker and an insurance salesman.
Potential investors don’t need a special crypto wallet; instead they will have to create an account with REtokens and complete a know-your-customer process, much like buying stocks on Fidelity, says REtokens’ Vinson. In fact, purchasers are buying securities, not cryptos. The tokens won’t be traded on exchanges like Coinbase or Binance but only marketable through REtokens. And since the small offering falls under regulation D of the Securities Act of 1933, Old Stone Church will be exempt from most disclosure requirements. Tokenholders won’t get a say in how the church is managed, either.
When Bush was asked the consequences of, say, a Satanist scooping up the majority of tokens, his response was, “I’d be like ‘great, thank you, let’s introduce you to Jesus.’” The Old Stone Church will be governed by its board and an operating agreement, he explains, so even a majority owner won’t be able to decide how to use the building. Tokenholders will only be able to vote for a president of the board and for or against the sale of the building.
Bush’s Colorado House Of Prayer is non denominational: “All churches who belong to Jesus are welcome to participate, regardless of their theological background.”
Photo by Colorado House of Prayer
Unlike traditional church and synagogue fundraisings, offered by not-for-profits and therefore tax-exempt, congregants wishing to “invest” in their church will not be getting any tax deductions. Tokenholders will be subject to normal income and capital gains taxes, which will come in the form of K-1 partnership distributions. “Even Jesus had to pay taxes and have a treasury,” says Bush.
As for returns, the pitch deck projects “a 2-3% yearly increase on each token in accordance with the rise in real estate value in downtown Fort Collins. In addition, each year, there will also be a small dividend based on the modest rent the LLC receives.” Pastor Bush is serious about managing investor expectations. “You’re not in this to make profits. You’re in this to do good in the community,” he says. The pitch deck notes that investors will be using their money to “advance the kingdom.”
The Old Stone Church is the first tokenized church, according to Graeme Moore, head of tokenization at Polymesh, but it may not be the last. Mark Elsdon, a minister and developer from Madison, Wisconsin, and author of Gone for Good?, writes that as many as 100,000 Christian church properties—a quarter to a third of all churches in the U.S.—are expected to be sold or repurposed in the next decade.
Already, hundreds of these properties are being acquired by businesses for use as offices, restaurants, co-working spaces, and hotels. New Yorkers may recall the 1983 transformation of the Gothic Revival-style Episcopal Church of the Holy Communion, built in 1844, into the Limelight nightclub, notorious for its drug-fueled parties. A more recent example is the Good Shepherd Lutheran Church on Lake Opeka in Des Plaines, Illinois, reborn as an upscale Mediterranean restaurant.
Pastor Bush’s vision stretches far beyond Fort Collins. He dreams of forming a foundation to help others tokenize their historic buildings. He may be onto something. Considering each communities’ zealotry, religion and blockchain may be a match made in heaven.
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Colorado
Colorado man sentenced to over 40 years in prison for murder of ex-girlfriend
A Boulder County man was sentenced to 48 years in prison for murdering his ex-girlfriend and dumping her body in 2024.
The Boulder County Sheriff’s Office said Christine Barron Olivas’s body was discovered in a remote area of unincorporated Boulder County on Sept. 14, 2024. She was last seen leaving the neighborhood with her boyfriend, Carlos Dosal, the week prior.
The coroner’s office determined the cause of her death was strangulation.
In Feb. 2026, Dosal pleaded guilty to second-degree murder as a crime of domestic violence in her death. On Saturday, the judge sentenced him to 48 years in the Colorado Department of Corrections.
Colorado
Saturday Night Showdown | Colorado Avalanche
Leading the Way
Nate the Great
MacKinnon is tied for fifth in the NHL in points (10), while ranking tied for seventh in goals (4) and tied for ninth in assists (6).
All Hail Cale
Cale Makar is tied for first in goals (4) among NHL defensemen,
Toewser Laser
Among NHL blueliners, Devon Toews is tied for third in points (7) while ranking tied for fifth in assists (5) and tied for sixth in goals (2).
Series History
The Avalanche and Wild have met in the playoffs on three previous occasions, all in the Round One, with Minnesota winning in 2003 and 2014 in seven games while Colorado was victorious in six contests in 2008.
Making Plays Against Minnesota
MacKinnon has posted 16 points (4g/12a) in nine playoff games against the Wild, in addition to 70 points (27g/43a) in 55 regular-season contests.
Makar has registered three points (2g/1a) in two playoff contests against Minnesota, along with 26 points (6g/20a) in 29 regular-season games.
Necas has recorded five points (1g/4a) in two playoff games against the Wild, in addition to nine points (5g/4a) in 15 regular-season games.
Scoring in the Twin Cities
Quinn Hughes is tied for the Wild lead in points (11) and assists (8) while ranking tied for second in goals (3).
Kaprizov is tied for first on the Wild in assists (8) and points (11) while ranking tied for second in goals (3).
Matt Boldy leads the Wild in goals (6) while ranking third in points (10) and tied for fourth in assists (4).
A Numbers Game
4.50
Colorado’s 4.50 goals per game on the road in the playoffs are tied for the most in the NHL.
39
MacKinnon’s 39 playoff goals since 2020-21 are the second most in the NHL.
2.17
The Avalanche’s 2.17 goals against per game in the playoffs are the second fewest in the NHL.
Quote That Left a Mark
“It should definitely get you up and excited. It’s gonna be a good test. [It’s a] great building and [it’s] against a desperate team. It’s gonna be great.”
— Gabriel Landeskog on playing in Minnesota
Colorado
Colorado Gov. Jared Polis signs state budget, with Medicaid taking brunt of cuts to close $1.5 billion gap
Colorado Gov. Jared Polis on Friday, May 8, signed into law a $46.8 billion state budget that cuts healthcare spending but preserves funding for K-12 education.
The budget applies to the 2026-27 fiscal year, which begins on July 1, and caps months of work by lawmakers, who wrestled with how to close a roughly $1.5 billion gap that ultimately forced reductions to Medicaid funding and other programs.
“This year was incredibly difficult and challenged each of us in a myriad of ways that put our values to the test,” said Rep. Emily Sirtota, a Denver Democrat and chair of the bipartisan Joint Budget Committee, which crafts the state’s spending plan before it is voted on by the full legislature. “It’s a zero-sum game. A dollar here means a dollar less over here.”
The state’s spending gap was the result of several factors.
The legislature is limited in how it can spend under the Taxpayer’s Bill of Rights, or TABOR, an amendment to the state constitution approved by voters in 1992 that limits government revenue growth to the rate of population growth plus inflation.
Lawmakers are also dealing with the consequences of increased spending on programs they created or expanded in recent years, some of which have seen their costs balloon beyond their original estimates. Costs for Medicaid services, in particular, have surged, driven by inflation, expanded benefits and greater demand for expensive, long-term care services due to Colorado’s aging population.
Medicaid cuts
Medicaid recently eclipsed K-12 education as the single-largest chunk of the state’s general fund and now accounts for roughly one-third of all spending from that fund.
Lawmakers, who are required by the state constitution to pass a deficit-free budget, said they had no choice but to cut Medicaid funding as a result.
That includes a 2% reduction to the state’s reimbursement rate for most Medicaid providers. The budget also institutes a $3,000 cap on adult dental benefits, limits billable hours for at-home caregivers of family members with severe disabilities to 56 hours per week and phases out, by Jan. 1, automatic enrollment for children with disabilities to receive 24/7 care as adults.
The budget also cuts benefits and places new limits on Cover All Coloradans, a program created by the legislature in 2022 that provides identical coverage as Medicaid to low-income immigrant children and pregnant women, regardless of their immigration status.
That includes an end to long-term care services for new enrollees, a $1,100 limit on dental benefits, and an annual enrollment cap of 25,000 for children 18 or younger. The cuts come as spending on the program has grown more than 600% beyond its original estimate, going from roughly $14.7 million to an estimated $104.5 million for the 2025-26 fiscal year.
While the budget still represents an overall increase in Medicaid spending compared to this year, funding is roughly half of what it would have been had lawmakers not made any changes to benefits and provider rates, which total about $270 million in savings for the state.
Healthcare leaders say the cuts will exacerbate an already challenging environment for providers, who are bracing for less federal support after Congress last year passed sweeping Medicaid cuts and declined to renew enhanced subsidies for the Affordable Care Act.
For rural hospitals in particular, Medicaid is one of their key funding drivers.
“While a 2% (Medicaid reimbursement rate cut) doesn’t sound like a whole lot, when we already have close to 50% of our rural hospitals statewide operating in the red and 70% with unsustainable margins, facing another 2% (cut) on top of that is just devastating,” said Michelle Mills, CEO for the Colorado Rural Health Center, which represents rural hospitals on the Western Slope and Eastern Plains.
If the state provides less reimbursement for Medicaid services, Mills said it will lead to fewer providers accepting Medicaid plans. That in turn will mean fewer care options for people, particularly in Colorado’s rural counties, where healthcare services are already more limited.
“I feel like all of the decisions and cuts that they’re making are hitting everyone,” she said.
Rep. Rick Taggart, a Grand Junction Republican and budget committee member, said cuts to healthcare led to “a lot of tears.”

“This was a tough budget, and nobody won in this budget, but we did what we had to do by way of the (state) constitution,” he said.
While Medicaid saw some of the biggest cuts, lawmakers also trimmed spending from a suite of other programs, including financial aid for adoptive parents and grants providing mental health support for law enforcement.
Preserving K-12 education
One of the brighter spots for Polis and lawmakers in the budget is K-12 education.
After years of chronically underfunding the state’s schools, lawmakers in 2024 rolled out a revamped funding formula and abolished what was known as the budget stabilization factor, a Great Recession-era mechanism that had allowed the state to skirt its constitutional funding obligation to schools for more than a decade.
The new funding formula went into effect this school year, and the state is set to continue delivering higher levels of K-12 funding in the 2026-27 fiscal year budget. The budget allocates roughly $10.19 billion in K-12 funding, an increase of roughly $194.8 million, though the specifics of that spending are still being worked out in a separate bill, the 2026 School Finance Act, which has yet to pass the legislature.
The finance act guides how state and local funds are allocated to Colorado’s 178 school districts on a per-pupil basis. As it stands now, the bill is on track to increase per-pupil funding by $440 per student for the 2026-27 fiscal year, for a total of $12,314 per student.
“We are not returning to the days of underfunding our schools and a budget stabilization factor,” Polis said.

Still, there are challenges on the horizon for some districts.
Combined with a proposed three-year averaging model for student counts instead of the current four-year averaging, recent dips in student enrollment across the state will weigh more heavily on how much funding is allocated to each district. The shift to three-year averaging advances the state’s plan to gradually phase in the new school finance formula by 2030-31.
With several districts seeing decreased year-over-year enrollment and rising operational expenses like healthcare, some Western Slope school districts are poised to see less funding compared to this year, while others are seeing their increases eaten up by inflation.
A note on wolves
The topic of Colorado’s spending on gray wolf reintroduction hasn’t gone away, and while Medicaid headlined much of the budget discussions, lawmakers also used the spending plan to send a message on the future of the wolf program.
While the budget allocates $2.1 from the general fund to Colorado Parks and Wildlife to spend on wolf reintroduction, it also contains a footnote from lawmakers asking the agency not to use the money to acquire new wolves.
Footnotes are not legally binding, but rather serve as a direction or guidance from lawmakers to agencies on how they want certain funds spent.
Under the footnote, the wildlife agency could still use gifts, grants, donations and non-license revenue from its wildlife cash fund to bring additional wolves to Colorado. Most of the agency’s wolf funding goes toward personnel, followed by operating costs, compensation for ranchers and conflict minimization programs and tools.
Education reporter Andrea Teres-Martinez and wildlife and environmental reporter Ali Longwell contributed to this story.
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