SafeMoon Files for Bankruptcy After Executives Face Fraud Charges
Crypto company SafeMoon applied for Chapter 7 personal bankruptcy on December 14th, leading to an instant 31% plunge of its token cost.
The relocation begins the heels of SafeMoon executives being criminally charged with securities scams conspiracy, wire scams conspiracy, and cash laundering conspiracy by U.S. authorities last month.
Keypoints
SafeMoon declared Chapter 7 personal bankruptcy, likewise referred to as "liquidation insolvency", on December 14th
The filing came quickly after SafeMoon executives were charged by the SEC with securities scams and apprehended
The SafeMoon token plunged 31% in 5 hours following the personal bankruptcy statement
The token has actually tipped over 98% from its all-time high cost of $0.0033 in January 2022
Lots of previous SafeMoon advocates revealed...