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The criminal trial of former SafeMoon CEO John Karony entered its second week with testimony from Henry “Hank” Wyatt, a SafeMoon staffer who handled communications until his resignation in September 2021. Wyatt, under questioning from prosecutors, testified that Karony, SafeMoon creator Kyle Nagy, and CTO Thomas “Papa” Smith jointly approved content for SafeMoon’s website in March of that year that misrepresented the nature of its tokenomics. Specifically, these included claims that new liquidity generated by the protocol was “automatically” locked in the liquidity pool. Wyatt also testified that Karony directed changes to this language later. In preserved messages, Karony sought language that would clarify that “ LP is auto-generated but not auto-locked ” via SafeMoon’s 10% transaction fee. Karony also had the slogan “100% community owned” changed to “100% community driven.” While such later changes at Karony’s direction may lead the jury to conclude that he event...

The crypto community has noticed Binance’s decision to list VINE and PIPPIN Perpetual Contracts, offering leverage up to 25 times. VINE, associated with Vine co-founder Rus Yusupov, has seen a surge in popularity. On the other hand, PIPPIN, a token powered by autonomous AI, is having difficulty gaining traction. Following a lighthearted announcement by Yusupov, VINE’s market capitalization soared to $500 million, only to later stabilize at $200 million. Meanwhile, tokens across other chains are printing gains. This article curates the most trending coins on GeckoTerminal. Trending Coins on GeckoTerminal In the last 24 hours, GAGSTER (ACC/1st Smart Meme) has experienced considerable market activity, with its price and trading metrics fluctuating significantly. Meanwhile, Vine Coin (VINE) is priced at $0.188, plummeting 42.65% in the same period. SafeMoon (SAFEMOON) trades at $0.05745, equivalent to 0.0002173 SOL.  Not Pixel (PX) is worth $0.1824, matching 0.03573 TON...

U.S. prosecutors claim SafeMoon CEO Braden John poses “serious risks of flight.” SafeMoon (SFM) CEO Braden John will not get a quick resolution of his case as prosecutors have secured a hold on his bail release , citing flight risk concerns. A New York judge delayed SafeMoon CEO Braden John Karony’s bail on Nov. 9 after prosecutors challenged a Utah judge’s decision to release him on a $500,000 bail. The government claims Karony poses “serious risks of flight and continued danger to the community should he be release d.” Prosecutors also claimed that Karony’s substantial assets were “entirely overlooked” by the court in Utah as the SafeMoon CEO provided “almost no information concerning his finances.” You might also like: Safemoon hacked for nearly $9 million In early November, the U.S. Securities and Exchange Commission (SEC) charged Karony, Kyle Nagy and Thomas Smith with conspiracy, fraud, and money ...

SafeMoon (SFM) has tanked by 54% in the daily charts and 51.1% in the weekly charts. The token is also down by 72.9% over the last year. SFM’s latest plunge follows the arrest of its founders, John Karony, Kyle Nagy, and Thomas Smith. The trio have been charged with a “multi-million dollar international fraud scheme.” They are accused of violating the registration and anti-fraud provisions of the Securities Act of 1933. They are also accused of violating the anti-fraud provisions of the Securities Exchange Act of 1934. The arrest was preceded by the US Securities and Exchange Commission (SEC) charging the company of selling unregistered securities. Moreover, according to the SEC’s press release, the company ran “a massive fraudulent scheme through the unregistered sale of the crypto asset security, SafeMoon.” Also Read: US Government Arrests Founders of SafeMoon Crypto Token Source: CoinGecko Did SafeMoon executives steal money? Source: Unsplash According to the...