SafeMoon CEO Braden Karony Don Convict For Securities Fraud And Money Laundering For Big Crypto Project Scam
SafeMoon oga CEO, Braden Karony, don get conviction from Brooklyn federal jury say him join body do securities fraud, wire fraud, and money laundering for inside SafeMoon crypto project matter. Dis judgement come after 18 months wey dem use investigate well well and one big case wey dem do for court, wey prosecutors show proof say Karony and him partners carry investors money use am for personal luxury things like expensive motor and house, while dem dey lie say SafeMoon liquidity pool don lock. Di oga dem for di company arrange how dem go dey lie to di public systematically to manipulate SafeMoon price and how investors go feel. Former CTO, Thomas Smith, wey cooperate with authorities because of plea deal, yarn about di koro-koro wey dey inside. Karony go face asset forfeiture of at least $2 million and dem fit jail am reach 45 years. Dis kain tin happen after SafeMoon file for Chapter 7 bankruptcy for December 2023, with di founder Kyle Nagy wey still dey on di run. Regulators don call SafeMoon as cover for thief, wey show say big risk dey for investors for crypto projects wey no get proper regulation. Dis case don show say regulation body dey eye crypto more now, di urgent need for transparency for DeFi sector, and market don dey pay more attention to high-yield or tokens wey dem never prove – all dis factors fit make SafeMoon price fall more and spoil him name.
Bearish
Di make any mistake, as dem don convict SafeMoon CEO, Braden Karony, for fraud wey concern money wey dem invest and carry money wey dem no suppose carry. Plus say dem get clear evidence say e dey do wayo, e dey chop investor money, and on top, the company don go bankrupt. All these things don make am clear say SafeMoon go suffer for their price and good name. Government go begin eye dem well well and public don dey warn pipu, wey dey make investors no trust dem again, not just SafeMoon, but other similar DeFi tokens too. For short time, this news go make pipu dey sell off more, the price go just dey go up and down like crazy, and dem fit even comot SafeMoon from crypto exchanges. For long time, the bad name wey dem get and the way government go dey look dem go limit any chance of dem recovering, so e sure say the future for SafeMoon (SFM) and other tokens wey dem never prove say dem good, go just dey bad for traders.