We collect cookies to analyze our website traffic and performance; we never collect any personal data.Cookies Policy
Accept
Michigan Post
Search
  • Home
  • Trending
  • Michigan
  • World
  • Politics
  • Top Story
  • Business
    • Business
    • Economics
    • Real Estate
    • Startups
    • Autos
    • Crypto & Web 3
  • Tech
  • Lifestyle
    • Lifestyle
    • Food
    • Beauty
    • Art & Books
  • Health
  • Sports
  • Entertainment
  • Education
Reading: SafeMoon CEO protection claims there was no conspiracy amongst execs
Share
Font ResizerAa
Michigan PostMichigan Post
Search
  • Home
  • Trending
  • Michigan
  • World
  • Politics
  • Top Story
  • Business
    • Business
    • Economics
    • Real Estate
    • Startups
    • Autos
    • Crypto & Web 3
  • Tech
  • Lifestyle
    • Lifestyle
    • Food
    • Beauty
    • Art & Books
  • Health
  • Sports
  • Entertainment
  • Education
© 2024 | The Michigan Post | All Rights Reserved.
Michigan Post > Blog > Crypto & Web 3 > SafeMoon CEO protection claims there was no conspiracy amongst execs
Crypto & Web 3

SafeMoon CEO protection claims there was no conspiracy amongst execs

By Editorial Board Published May 21, 2025 4 Min Read
Share
SafeMoon CEO protection claims there was no conspiracy amongst execs

The protection for former SafeMoon CEO John Karony summarized its case late on Tuesday, Might 20, hoping to forged doubt on prosecutors’ compelling proof.

Karony is charged with conspiracy to commit wire fraud, securities fraud, and cash laundering in reference to SafeMoon, a crypto token that noticed a wild surge in recognition and market worth in early 2021, on the peak of a crypto bull market rife with frauds.

Prosecutors have convincingly demonstrated that Karony misrepresented the mechanics of SafeMoon, together with its purportedly “locked” liquidity pool and the move of income from exchanges, together with BitMart, which traded the token.

Nicholas Smith, Karony’s lead (and solely) protection legal professional, drew consideration to what he argued have been ambiguities and contradictions within the authorities’s claims. 

These included the truth that Karony joined the SafeMoon group after among the misleading messaging in query was created. Most notably, the SafeMoon Whitepaper was written by SafeMoon developer Kyle Nagy earlier than Karony was employed as CEO — although the federal government has proven it retained misrepresentations for near 10 months after Karony joined.

Smith additionally revisited proof that Karony didn’t perceive crypto effectively on the time of lots of his statements, declaring that “fraud isn’t just about intent, it’s about a level of knowledge.”

A few of Smith’s arguments have been extra of a stretch. Specifically, he characterised SafeMoon posts displaying “locks” of enormous tranches of tokens as disclosures that the liquidity pool was not completely locked, a theme Smith has reiterated all through the trial.

Equally, Smith performed a clip from a SafeMoon group AMA that included a reference to discussions of locking the pool, and described this as “admitting the liquidity pool isn’t locked.”

Smith additional argued that proof of disagreement amongst SafeMoon executives, notably concerning the correct remedy of the liquidity pool, meant there might have been no “conspiracy” amongst them.

“Conspiracy requires agreement,” Smith argued — although these disagreements appear principally to have been temporary velocity bumps on the street to self-enrichment. Concurrently, Smith argued that there might be no conspiracy between Karony and Safemoon CTO Thomas “Papa” Smith, as a result of Smith (no relation) was taking orders from Karony.

The legal professional additionally argued that lots of Karony’s statements characterised as fraudulent by prosecutors didn’t rise to that normal. Particularly, Smith argued that claims that SafeMoon was “safe” weren’t fraudulent as a result of they didn’t comprise particular “factual content.”

That is akin to “puffery” defenses which have been put forth in different fraud circumstances: in the event you’re attempting to promote one thing, a level of exaggeration or colourful language might be acceptable with out crossing the road of fraud.

These arguments might have helped the protection plant seeds of doubt within the jury’s thoughts. We are going to most definitely discover out tomorrow, Wednesday, Might 21, with the jury starting deliberation very first thing within the morning.

TAGGED:amongCEOclaimsconspiracyDefenseExecsSafeMoon
Share This Article
Facebook Twitter Email Copy Link Print

HOT NEWS

Tobias Raymond is now a key cog — and de facto grillmaster — on unsure USC offensive line

Tobias Raymond is now a key cog — and de facto grillmaster — on unsure USC offensive line

Sports
August 3, 2025
Strictly Come Dancing: BBC responds as two TV stars accused of taking cocaine

Strictly Come Dancing: BBC responds as two TV stars accused of taking cocaine

The BBC has responded after it was reported that two Strictly Come Dancing stars have…

August 3, 2025
Commentary: Lakers’ dedication to Luka Doncic raises questions on LeBron James’ function

Commentary: Lakers’ dedication to Luka Doncic raises questions on LeBron James’ function

When he was completed speaking about how he lifted weight and avoided taking part in…

August 2, 2025
India hints it is going to preserve shopping for Russian oil – regardless of Trump threats

India hints it is going to preserve shopping for Russian oil – regardless of Trump threats

India has indicated it is going to defy threats made by US President Donald Trump…

August 2, 2025
It is Miller time at Bellflower Excessive

It is Miller time at Bellflower Excessive

In the event you’re searching for a soccer staff that nearly definitely shall be improved…

August 2, 2025

YOU MAY ALSO LIKE

Songs for pumping and dumping: crypto’s Spotify leak

Costs are down this morning on one other Donald Trump tariff announcement and disappointing unemployment report. Nevertheless, crypto traders have…

Crypto & Web 3
August 1, 2025

DeFi shake-up: Lido cuts employees, Curve rethinks L2s

Two of the decentralized finance (DeFi) sector’s finest identified platforms, liquid staking protocol Lido and decentralized change Curve Finance, are…

Crypto & Web 3
August 1, 2025

Tesla Diner is a automotive wreck of ‘epic’ proportions

Whereas Tesla fanboys proceed to publish 4 and five-star opinions on Google, and excited YouTubers add video after video raving…

Crypto & Web 3
August 1, 2025

Flintoff praises NHS workers who handled him after crash, as physician says his accidents had been ‘amongst most complicated’ he is ever seen

Andrew Flintoff has praised the "love and compassion" of "superhero" workers in a go to to the hospital that handled…

Entertainment
August 1, 2025

Welcome to Michigan Post, an esteemed publication of the Enspirers News Group. As a beacon of excellence in journalism, Michigan Post is committed to delivering unfiltered and comprehensive news coverage on World News, Politics, Business, Tech, and beyond.

Company

  • About Us
  • Newsroom Policies & Standards
  • Diversity & Inclusion
  • Careers
  • Media & Community Relations
  • Accessibility Statement

Contact Us

  • Contact Us
  • Contact Customer Care
  • Advertise
  • Licensing & Syndication
  • Request a Correction
  • Contact the Newsroom
  • Send a News Tip
  • Report a Vulnerability

Term of Use

  • Digital Products Terms of Sale
  • Terms of Service
  • Privacy Policy
  • Cookie Settings
  • Submissions & Discussion Policy
  • RSS Terms of Service
  • Ad Choices

© 2024 | The Michigan Post | All Rights Reserved

Welcome Back!

Sign in to your account

Lost your password?