Breaking: Founder of Popular Meme Coin Sentenced to Years Behind Bars
Analysis
Price Impact
HighThe founder of safemoon, braden karony, being sentenced to over eight years in federal prison for 'massive fraud' and a 'rug pull' is a definitive end to the project's credibility and viability. this confirms the fraudulent nature of the token, leading to a complete collapse of any remaining trust or value.
Trustworthiness
HighThe news comes from a federal court sentencing by judge eric komitee of the eastern district of new york, making it an official and undeniable legal outcome.
Price Direction
BearishWith the founder convicted and sentenced for fraud, the safemoon project is definitively labeled a scam. this will likely cause any remaining holders to exit, driving the price towards zero as confidence is completely eroded and the project's future is non-existent.
Time Effect
LongA criminal conviction and prison sentence for the founder marks a permanent stain on the project. this is not a temporary setback but a terminal event for safemoon's reputation and potential, leading to sustained downward pressure.
Original Article:
Article Content:
Cover image via www.youtube.com Read U.TODAY on Google News Braden Karony, the 29-year-old founder of the once-viral cryptocurrency SafeMoon, was sentenced to 100 months (over eight years) in federal prison on Tuesday. Advertisement Advertisement The sentencing marks the final chapter for the token that turned out to be a "massive fraud." Judge Eric Komitee of the Eastern District of New York handed down the sentence after a hearing that oscillated between the defense’s unique pleas regarding Karony’s upbringing and the testimony of financial ruin from victims. You Might Also Like Tue, 11/18/2025 - 09:29 Bitcoin Is 'Fraud,' Says Peter Schiff: Why It Could Be True By Arman Shirinyan Advertisement "This is more like theft than fraud," Judge Komitee remarked before delivering the sentence. "It was not a small loss per person like in many securities frauds." During the hearing, victims painted a grim picture of the real-world consequences of Karony's "rug pull." #Meme Cryptocurrencies