SafeMoon’s SFM token surged nearly 57% as it nears migration to Solana, with developers burning large amounts of tokens and announcing a gradual airdrop. The project is restructuring governance to become a Decentralized Autonomous Organization (DAO) to rebuild trust after past fraud allegations. Support from crypto exchange Bitrue and a focus on community governance are fueling positive sentiment around the project.
about SafeMoon price surges as token migrates to Solana and governance changesSafeMoon
0 in Finance and 0 in Crypto last weekSafeMoon to Launch New Memecoin on Solana After Major Token Burn
SafeMoon is launching a new memecoin on the Solana blockchain following the burn of 2.2 trillion SFM tokens across multiple networks, significantly reducing supply. This initiative aims to enhance liquidity and facilitate token swaps via the VGX wallet, as the project seeks to recover from past controversies and bankruptcy. With its previous market cap of $17 billion now dwindled to around $41 million, the crypto community is closely monitoring this development for potential exchange listings and a turnaround.
about SafeMoon to Launch New Memecoin on Solana After Major Token BurnUS Treasury Lawsuit and New Stablecoin Legislation Developments
The AFL-CIO has sued the US Treasury, alleging unlawful disclosure of personal information to Elon Musk’s DOGE initiative. Meanwhile, US lawmakers proposed a stablecoin bill to enhance dollar dominance, imposing a two-year ban on certain stablecoins and requiring a Treasury study.In other news, Coinbase faces a lawsuit over unregistered securities sales after a judge ruled it must respond to allegations regarding 79 crypto assets. Additionally, former SafeMoon CEO Braden Karony seeks to delay his trial, citing potential regulatory changes under the Trump administration. Law firms have also demanded the removal of over 200 infringing meme tokens from Pump.fun, claiming they violate intellectual property rights.
about US Treasury Lawsuit and New Stablecoin Legislation DevelopmentsSafeMoon CEO Seeks Trial Delay Citing Potential SEC Policy Changes
Braden John Karony, former CEO of SafeMoon, has requested a delay in his criminal trial, citing potential regulatory changes under the Trump administration that could affect the classification of digital assets. His legal team argues that new SEC policies might lead to the dismissal of charges related to SafeMoon being deemed a security. However, the US Attorney’s Office opposed the request, stating that the charges of wire fraud and money laundering are independent of any regulatory shifts.
about SafeMoon CEO Seeks Trial Delay Citing Potential SEC Policy Changes