SafeMoon LLC was an American cryptocurrency and blockchain company created in March 2021. The company created the SafeMoon token (SFM) which traded on the BNB Chain blockchain. The token charged a 10% fee on transactions, with 5% redistributed (or reflected) to token holders and 5% directed to wallets in a different currency, Binance Coin (BNB), controlled by the coin's authors. The token reached its all-time high market cap in April 2021 of $17b.
SafeMoon LLC was an American cryptocurrency and blockchain company created in March 2021. The company created the SafeMoon token (SFM) which traded on the BNB Chain blockchain. The token charged a 10% fee on transactions, with 5% redistributed (or reflected) to token holders and 5% directed to wallets in a different currency, Binance Coin (BNB), controlled by the coin's authors. The token reached its all-time high market cap in April 2021 of $17b.
The SafeMoon company released a minimal-function cryptocurrency wallet and announced plans to release other cryptocurrency products. The company and the token have been the subject of several controversies: having been compared to a ponzi-scheme, not delivering on products, having multiple class-action lawsuits filed against them, and facing serious fraud allegations. In November 2023, the SEC and the United States Department of Justice charged SafeMoon and its executive team with fraud, the unregistered offering of securities, and money laundering. In December 2023, SafeMoon declared Chapter 7 bankruptcy, and as a part of this process was acquired by the VGX Foundation.
Discovered by embedding cosine similarity (sentence-transformers MiniLM, 384-dim).