SafeMoon Faces Bankruptcy and Executive Arrests Amid SEC Fraud Charges
3 months ago 1 min read

SafeMoon files for bankruptcy amid fraud charges, executives arrested

SafeMoon has filed for bankruptcy following fraud charges brought against it by the U.S. Securities and Exchange Commission (SEC). This development has sent shockwaves through the crypto community and caused a 14.4% plummet in the value of SafeMoon’s native token. The bankruptcy filing, made under Chapter 7, signifies SafeMoon’s intention to halt operations and liquidate assets to settle outstanding debts. The company acknowledges debts of approximately $500,000, while its assets are estimated to be within the $10 million to $50 million range. Top executives of SafeMoon, including Kyle Nagy, John Karony, and Thomas Smith, have also found themselves in legal

SafeMoon Founder Faces SEC Wrath Over Alleged $200 Million Misuse
4 months ago 1 min read

The US SEC is after SafeMoon Founder for Misleading Investors and Misusing Funds

The US Securities and Exchange Commission (SEC) has made some serious accusations against SafeMoon, a crypto company that has gained popularity, as well as its key figures, including founder Kyle Nagy, CEO John Karony, and CTO Thomas Smith. The SEC alleges that SafeMoon sold a cryptocurrency asset known as SafeMoon without going through the proper registration process. Furthermore, it’s claimed that they made grand promises of substantial gains to investors but then allegedly withdrew more than $200 million in cryptocurrency assets and misused these funds. David Hirsch, who oversees the Crypto Assets and Cyber Unit at the SEC, criticized these