SafeMoon Scandal: Braden Karony Sentenced to 100 Months in Prison
Former SafeMoon CEO Braden Karony was sentenced to 100 months in prison for stealing $9 million from the platform’s liquidity pool in 2021 to finance his lavish lifestyle. The sentence was handed down on Monday, 9 months after a federal jury convicted him in May 2025 on charges of securities fraud, wire fraud, and money laundering. FBI Deputy Director James C. Barnacle Jr. stated that Karony abused his CEO position to deceive investors. With the stolen money, he purchased a $2.2 million home in Utah, an Audi R8 sports car, a Tesla, a custom Ford F-550, and a Jeep Gladiator truck. U.S. Attorney Joseph Nocella Jr. emphasized that heavy penalties will be imposed for such financial crimes.
Source: Ariel GivnerKarony lost approximately $7.5 million through a restitution order; the compensation amount for victims will be determined later. SafeMoon’s former CTO Thomas Smith pleaded guilty in February 2025 and awaits sentencing; the platform’s creator Kyle Nagy is on the run.
FTT and Similar Crypto Executive Penalties
Karony was punished similarly to other crypto executives from the 2021-2022 market cycle, such as FTX former CEO Sam Bankman-Fried (25 years) linked to FTT detailed analysis and Celsius former CEO Alex Mashinsky (12 years). These scandals led to an erosion of trust in the crypto sector.
FTT Technical Outlook and Price Analysis
FTT is currently at the $0.35 level, trading with a 24h +%11.94 change. RSI 41.80, overall trend downward (Supertrend Bearish, EMA20 $0.3719). Critical levels for FTT futures:
- Supports: S1 $0.3304 (Strong, -%5.79), S2 $0.2853 (Strong, -%18.65)
- Resistances: R1 $0.3753 (Strong, +%7.01), R2 $0.4873 (Strong, +%38.95)
Investors should closely follow FTT spot analysis.
Source: https://en.coinotag.com/safemoon-ceo-karony-sentenced-to-100-months-in-prison-ftt-comparison
