latest World Crypto News

Search and discover the latest Cryptocurrency updated Stories in Categories

24-7 World Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources

DeFi Altcoin Rebounds by More Than 92% From Last Week’s Crypto Crash Despite Class-Action Lawsuit

DeFi Altcoin Rebounds by More Than 92% From Last Week’s Crypto Crash Despite Class-Action Lawsuit
The second version of a crypto whose predecessor is embroiled in lawsuits finds itself defying the odds on the price charts.
SafeMoon (SFM) is the rebranded follow-up to SafeMoon (SAFEMOON), a so-called meme coin that initially skyrocketed after launching to great fanfare due to celebrity hype in March of 2021 before crashing two months later.

The new version of SafeMoon is targeting the decentralized finance (DeFi) space by building its own exchange, which is currently under construction, as well as offering a branded credit card that is accepting pre-launch sign-ups. The SafeMoon wallet is live and can be downloaded from the App Store or Google Play.
According to the project website , SafeMoon is also interested in creating products for the metaverse, commerce and non-fungible tokens (NFTs).
While v2 of SafeMoon moves ahead, the original incarnation is caught up in three class-action lawsuits.
Bloomberg Law reports that the founders of SafeMoon LLC are accused of defrauding investors for hundreds of millions of dollars via artificial price inflation after it was revealed that network transaction fees were not actually locked in liquidity pools as stated.
The U.S. Securities and Exchange Commission (SEC) is also going after SafeMoon for failing to register the crypto asset as a security. Last May then-incoming SEC head Gary Gensler made a point of calling out many cryptos as securities and expressed his intention to regulate the industry.
SafeMoon launched in March of 2021 with a price of $0.000000044360, then skyrocketed to an all-time high of $0.000010943471 in less than two months, before a cascade of controversies brought it back down to earth. After a November rally to $0.00000635, SAFEMOON resumed its decline and is currently worth a mere $0.000000108860.
SFM, which debuted on December 21st of last year, has recovered nicely after the overall crypto market crash last week, with SafeMoon rising 134% from a May 11th low of $0.000282 to its current trading price of $0.000660.
Check Price Action

Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter , Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Hangouts Vector Pro/Natalia Siiatovskaia
The post DeFi Altcoin Rebounds by More Than 92% From Last Week’s Crypto Crash Despite Class-Action Lawsuit appeared first on The Daily Hodl . shares this Contents always with License.

Thank you for Share!



Cool to know huh? Read the full Article

Read the full Article:  ⭲ DeFi Altcoin Rebounds by More Than 92% From Last Week’s Crypto Crash Despite Class-Action Lawsuit

Search about Crypto News


The latest Top News, only from Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed simple and intuitive, usable by all Devices, fast and effective.


Today Most Popular News

SneakPeek Script
Setup, Upload and Go!