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Safemoon executive pleads guilty in $200M fraud case as project pivots to memecoin strategy – TON BOT

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Safemoon executive pleads guilty in $200M fraud case as project pivots to memecoin strategy

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Former Safemoon CTO Thomas Smith pleaded guilty to charges related to a $200 million fraud scheme tied to the crypto project. He admitted to misleading investors about Safemoon’s liquidity and faces up to 25 years in prison. The SEC also charged Safemoon’s leadership team for fraud and money laundering. Safemoon is undergoing a restructuring and plans to launch a community-driven meme coin on Solana. Investors are warned to remain cautious.

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