Ex-SafeMoon CEO gets 8-year prison sentence for defrauding investors

Policy Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Ex-SafeMoon CEO gets 8-year prison sentence for defrauding investors Braden John Karony had been convicted last year on several federal charges, and he's ordered to pay back $7.5 million in restitution. By Jesse Hamilton | Edited by Stephen Alpher Feb 10, 2026, 8:24 p.m. Make us preferred on Google The former CEO of SafeMoon has been sentenced to 100 months in prison, according to the U.S. Department of Justice. (Jesse Hamilton/CoinDesk) What to know : The ex-CEO of SafeMoon faces 100 months behind bars after a sentencing on Tuesday. Braden John Karony and his cohorts were accused and convicted of taking millions from their crypto operation for their own gain, including spending to support lavish lifestyles. Former SafeMoon CEO Braden John Karony will face an 8-year prison sentence after being convicted last year on a string of federal charges tied to defrauding investors in his digital assets operation. STORY CONTINUES BELOW 다른 이야기를 놓치지 마세요. 오늘 State of Crypto 뉴스레터를 구독하세요 . 모든 뉴스레터 보기 가입하기 By signing up, you will receive emails about CoinDesk products and you agree to our terms & conditions and 개인정보 보호정책 . The 100-month sentence was handed down Tuesday in U.S. District Court for the Eastern District of New York, and Karony must also forfeit $7.5 million and two residences in the case. “Karony lied to investors from all walks of life — including military veterans and hard-working Americans — and defrauded thousands of victims in order to buy mansions, sports cars, and custom trucks,” stated United States Attorney Nocella, in a statement. “Our office will continue to vigorously prosecute economic crimes that harm investors and weaken societal trust in the stability and security of digital asset markets.” Karony was said to have participated in manipulating the price of the SafeMoon token and illicitly controlling liquidity pools in the failed Utah-based company to drain millions of dollars, according to the Department of Justice. After a three-week trial, he was convicted of conspiracy to commit securities fraud, wire fraud, and money laundering. One co-conspirator, Thomas Smith, also pleaded guilty in February 2025 to conspiracy to commit securities fraud and wire fraud, though he hasn't yet been sentenced. Another alleged SafeMoon conspirator, Kyle Nagy, is still wanted by authorities. Read More: SafeMoon Execs Arrested by DOJ in Fraud Investigation, Charged by SEC Safemoon U.S. Department of Justice Sentencing Criminal Activities More For You Sam Bankman-Fried files for new trial over FTX fraud charges By Jesse Hamilton | Edited by Stephen Alpher 13 minutes ago The incarcerated former leader of the failed crypto exchange wants a new chance to defend against fraud charges. What to know : Sam Bankman-Fried's mom filed the ex-CEO's latest request to clear his name in court, with the former leader of global crypto exchange FTX seeking another U.S. trial. He's representing himself at this point, according to the 35-page "pro se" filing. SBF will have to demonstrate he has compelling new evidence to warrant another trial. Read full story Latest Crypto News Sam Bankman-Fried files for new trial over FTX fraud charges 13 minutes ago Concerns over Strategy selling bitcoin are 'unfounded,' Michael Saylor says 1 hour ago Struggling Coinbase gets price target cut from JPMorgan ahead of Thursday earnings 3 hours ago Tether invests in LayerZero Labs as it doubles down on cross-chain tech, agentic finance 4 hours ago Bitcoin remains in tight range under $70,000 ahead of Wednesday's U.S. jobs report 4 hours ago Crypto exchange Kraken fires chief financial officer ahead of long-awaited IPO 4 hours ago Top Stories Vitalik Buterin outlines how Ethereum could play a key role in the future of AI 4 hours ago Bitcoin a tech trade for now, not digital gold, says Grayscale 7 hours ago AI mania is helping cap crypto's upside, Wintermute says 7 hours ago U.S. bitcoin ETFs register back-to-back inflows for first time in a month 12 hours ago I'm not confident we hit a true capitulation in bitcoin, derivatives expert says 10 hours ago Jump Trading to take small stakes in Polymarket, Kalshi: Bloomberg 8 hours ago