SafeMoon

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

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