Digital currencies were circulated in green on Thursday, with Bitcoin passed their highest levels ever, and traded at $ 110,601.
While Altcoins followed its example with great gains on their daily price plans, the situation was different among Safemoon holders.
SFM has drawn its red scheme 24 hours a day, lost more than 10 % as the American Federal jury found the former CEO of Safemoon Braden Karrony in all three accounts: money laundering, wire fraud, and securities fraud.
Breaking: The former CEO of Safemoon Braden John Karrony was convicted of the three criminal charges he received against him.
The code saw a sharp decrease from 0.00002112 to 0.00001889 dollars (10.56 % decrease) after the news.
It is worth noting that the American organizers arrested the executive directors in November 2023 for fraud.
Former CEO Sephin is guilty on all criminal charges
A 12 -day trial has ended with the US jury conviction of the plots of money laundering, wire fraud, and securities, which reaches 45 years of prison.
The Public Prosecutor claims that Karuni and his conspiracy participants have misled innocent investors about their arrival to the liquidity gathering and used personal gains.
However, yesterday press release Clear:
With the market value of Safemoon to more than $ 8 billion, the defendant fraud and liquidity from millions of dollars liquidity from the Safeemoon Group in its personal interest.
Meanwhile, the perpetrators used the stolen money to buy luxury cars and invest in real estate.
The embezzlement of investor money witnessed the company’s bankruptcy in December 2023.
With the conclusion of the guilty, the judge also spent that one housing house should be delivered from another, at a value of about two million dollars.
The court has warned the fraudsters who hear the encryption investors and the destruction of investor confidence in the digital asset industry.
Such events impeded the growth and stability of emerging technologies.
Meanwhile, Caronian condemnation is a major moment for the Safemoon project, which suffers from disturbances as allegations of 8 billion dollars in fraud.
For SMF investors, the ruling has increased the deterioration of the already shaky confidence in the future of Safemoon.
While Karuni stepped down as an executive president before the trial, the guilty conviction adds to the differences in the project since his impressive performance in 2021.
SFM price expectations
The original symbol showed a significant drop amid legal development.
SFM has been separated from the continuous broad gatherings with a 10 % decline in the past 24 hours.
It hovers at $ 0.00001889, while increasing daily trading volumes, indicating high sales activities.
Safemoon is trading 83 % less than 2025 at $ 0.00011047, which was achieved in early March.
Technical indicators support the short -term landing path for SFM.
For example, MACD display on the 4H graphs red graphic with visual landing crossover.
Moreover, the 38.56 relative index indicates more declines before Alt hit the sales lands.
Safemoon’s future remains uncertain. The organization has not yet commented on guilt.
The enthusiasts will monitor how the team will try to save the project and restore investor confidence.
The post SFM price decreased by 10 % after the former SAFEMON CEO appeared in the case of fraud first on Invezz
