2022 Safemoon Fraud Allegations
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2022 Safemoon Fraud Allegations
SafeMoon LLC is a cryptocurrency and blockchain company created in March 2021. The company also has a SafeMoon token (SFM) which trades on the Binance#Binance coin (BNB), BNB Chain blockchain. The token charges 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 capitalization, market cap in April 2021 of $17b. As of December 2022, it has since dropped 98.7% in value to $223m. The SafeMoon company has released a minimal-function cryptocurrency wallet and has announced plans to release other cryptocurrency products. The company and the token have been the subject of several controversies since conception; by being compared to a "Crypto Ponzi scheme, ponzi-scheme", not delivering on products, having multiple #Class-action lawsuits, class-action lawsuits filed against them, and facing #2022 fraud alle ...
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Pleasant Grove, Utah
Pleasant Grove, originally named Battle Creek, is a city in Utah County, Utah, United States known as "Utah's City of Trees". It is part of the Provo– Orem Metropolitan Statistical Area. The population was 37,726 at the 2020 Census. History Settlement and incorporation On July 19, 1850, William H. Adams, John Mercer and Philo T. Farnsworth, Mormon pioneers sent by Brigham Young, arrived at the area now known as Pleasant Grove and staked out farms in what is now the southwest corner of the city. A small community was established September 13, 1850, consisting of George S. Clark and his wife, Susannah Dalley Clark, Richard and Ann Elizabeth Sheffer Clark, John Greenleaf Holman and Nancy Clark Holman, Lewis Harvey and his wife Lucinda Clark Harvey, Johnathan Harvey and Sarah Herbert Harvey, Charles Price and wife and child, Widow Harriet Marler and children, John Wilson, Ezekiel Holman, and possibly one or two others, relatives of those mentioned. Of note, Bro William Fletc ...
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Cryptocurrency Exchange
A cryptocurrency exchange, or a digital currency exchange (DCE), is a business that allows customers to trade cryptocurrencies or digital currencies for other assets, such as conventional fiat money or other digital currencies. Exchanges may accept credit card payments, wire transfers or other forms of payment in exchange for digital currencies or cryptocurrencies. A cryptocurrency exchange can be a market maker that typically takes the bid–ask spreads as a transaction commission for its service or, as a matching platform, simply charges fees. Some brokerages which also focus on other assets such as stocks, like Robinhood and eToro, let users purchase but not withdraw cryptocurrencies to cryptocurrency wallets. Dedicated cryptocurrency exchanges such as Binance and Coinbase do allow cryptocurrency withdrawals, however. Operation A cryptocurrency exchange can typically send cryptocurrency to a user's personal cryptocurrency wallet. Some can convert digital currency balances ...
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Crypto
Crypto commonly refers to: * Cryptocurrency, a type of digital currency secured by cryptography and decentralization * Cryptography, the practice and study of hiding information Crypto or Krypto may also refer to: Cryptography * Cryptanalysis, the study of methods for obtaining the meaning of encrypted information * CRYPTO (conference), an annual cryptographical and cryptoanalytic conference * Crypto++, a free, open source library of cryptographic algorithms and schemes *'' Crypto: How the Code Rebels Beat the Government—Saving Privacy in the Digital Age'', a book about cryptography by Steven Levy * Crypto AG, a Swiss manufacturer of encrypted communications products Finance * crypto.com, a cryptocurrency online News platform. Biology and medicine * ''Cryptococcus'' (fungus), a genus of fungus that can cause lung disease, meningitis, and other illnesses in humans and animals ** Cryptococcosis (also called cryptococcal disease), a disease caused by ''Cryptococcus'' * ' ...
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Debit Card
A debit card, also known as a check card or bank card is a payment card that can be used in place of cash to make purchases. The term ''#Plastic card, plastic card'' includes the above and as an identity document. These are similar to a credit card, but unlike a credit card, the money for the purchase must be in the cardholder's bank account at the time of a purchase and is immediately transferred directly from that account to the merchant's account to pay for the purchase. Some debit cards carry a Stored-value card, stored value with which a payment is made (prepaid card), but most relay a message to the cardholder's bank to withdraw funds from the cardholder's designated bank account. In some cases, the payment card number is assigned exclusively for use on the Internet and there is no physical card. This is referred to as a virtual card. In many countries, the use of debit cards has become so widespread they have overtaken cheque, checks in volume, or have entirely replace ...
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Decentralized Exchange
Decentralized finance (often stylized as DeFi) offers financial instrument, financial instruments without relying on Intermediary, intermediaries such as brokerage, brokerages, Exchange_(organized_market), exchanges, or bank, banks by using Smart contract, smart contracts on a blockchain. DeFi platforms allow people to lend or borrow funds from others, speculate on price movements on assets using derivatives, trade cryptocurrencies, insure against risks, and earn interest in savings-like accounts. DeFi uses a layered architecture and highly composable building blocks. Some applications promote high Interest rate, interest rates but are subject to high risk. History Decentralized exchanges (abbreviated DEXs) are alternative payment ecosystems with new Decentralized network protocol, protocols for financial transactions that emerged within the framework of decentralized finance, which is part of blockchain technology and FinTech. CEXs, DEXs and DEX aggregators are all built on the ...
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Stephen Findeisen
Stephen Findeisen, better known by his online alias Coffeezilla, is an American YouTuber and crypto journalist who is known primarily for his channel in which he investigates and discusses alleged online scams, usually surrounding cryptocurrency, decentralized finance and internet celebrities. Before Coffeezilla, Findeisen was active on YouTube with the channel Coffee Break between 2017 and 2020. Early life Findeisen holds a degree in chemical engineering from Texas A&M University. Before his YouTube career, he sold houses for a local builder. Career Career beginnings Findeisen was motivated to hunt down scams after his mother, who had been diagnosed with cancer, was persuaded to buy questionable products with the belief that they would help cure her. His mother would later end up recovering after surgery. He began his career as a YouTuber by uploading videos in which he makes allegations about influencers and financial commentators. Save the Kids token He gained inter ...
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Project Pheonix Lawsuit
A project is any undertaking, carried out individually or collaboratively and possibly involving research or design, that is carefully planned to achieve a particular goal. An alternative view sees a project managerially as a sequence of events: a "set of interrelated tasks to be executed over a fixed period and within certain cost and other limitations". A project may be a temporary (rather than a permanent) social system (work system), possibly staffed by teams (within or across organizations) to accomplish particular tasks under time constraints. A project may form a part of wider programme management or function as an ''ad hoc'' system. Note that open-source software "projects" or artists' musical "projects" (for example) may lack defined team-membership, precise planning and/or time-limited durations. Overview The word ''project'' comes from the Latin word ''projectum'' from the Latin verb ''proicere'', "before an action," which in turn comes from ''pro-'', which de ...
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Phoenix (mythology)
The phoenix is an immortal bird associated with Greek mythology (with analogs in many cultures) that cyclically regenerates or is otherwise born again. Associated with the sun, a phoenix obtains new life by rising from the ashes of its predecessor. Some legends say it dies in a show of flames and combustion, others that it simply dies and decomposes before being born again. In the ''Motif-Index of Folk-Literature'', a tool used by folklorists, the phoenix is classified as motif B32.Thompson. (2001: 581). The origin of the phoenix has been attributed to Ancient Egypt by Herodotus and later 19th-century scholars, but other scholars think the Egyptian texts may have been influenced by classical folklore. Over time the phoenix motif spread and gained a variety of new associations; Herodotus, Lucan, Pliny the Elder, Pope Clement I, Lactantius, Ovid, and Isidore of Seville are among those who have contributed to the retelling and transmission of the phoenix motif. Over time, extendin ...
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The Gambia
The Gambia,, ff, Gammbi, ar, غامبيا officially the Republic of The Gambia, is a country in West Africa West Africa or Western Africa is the westernmost region of Africa. The United Nations defines Western Africa as the 16 countries of Benin, Burkina Faso, Cape Verde, The Gambia, Ghana, Guinea, Guinea-Bissau, Ivory Coast, Liberia, Mali, Mau .... It is the smallest country within mainland AfricaHoare, Ben. (2002) ''The Kingfisher A-Z Encyclopedia'', Kingfisher Publications. p. 11. . and is surrounded by Senegal, except for its western coast on the Atlantic Ocean. The Gambia is situated on both sides of the lower reaches of the Gambia River, the nation's namesake, which flows through the centre of the Gambia and empties into the Atlantic Ocean, thus the long shape of the country. It has an area of with a population of 1,857,181 as of the April 2013 census. Banjul is the Gambian capital and the country's largest metropolitan area, while the largest cities ar ...
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United States Department Of Defense
The United States Department of Defense (DoD, USDOD or DOD) is an executive branch department of the federal government charged with coordinating and supervising all agencies and functions of the government directly related to national security and the United States Armed Forces. The DoD is the largest employer in the world, with over 1.34 million active-duty service members (soldiers, marines, sailors, airmen, and guardians) as of June 2022. The DoD also maintains over 778,000 National Guard and reservists, and over 747,000 civilians bringing the total to over 2.87 million employees. Headquartered at the Pentagon in Arlington, Virginia, just outside Washington, D.C., the DoD's stated mission is to provide "the military forces needed to deter war and ensure our nation's security". The Department of Defense is headed by the secretary of defense, a cabinet-level head who reports directly to the president of the United States. Beneath the Department of Defense are t ...
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Limited Liability Company
A limited liability company (LLC for short) is the United States of America, US-specific form of a private limited company. It is a business structure that can combine the Flow-through entity, pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation. An LLC is not a corporation under state law; it is a legal form of a company that provides limited liability to its owners in many jurisdictions. LLCs are well known for the flexibility that they provide to business owners; depending on the situation, an LLC may elect to use corporate tax rules instead of being treated as a partnership, and, under certain circumstances, LLCs may be organized as not-for-profit. In certain U.S. states (for example, Texas), businesses that provide professional services requiring a state professional license, such as legal or medical services, may not be allowed to form an LLC but may be required to form a similar entity called a professional limited li ...
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