European VP of Operations at SafeMoon, Charles Karony, Leaves The Project
The project's recent success and the efforts of the whole SafeMoon team and the millions of people who have contributed to the cryptocurrency's growth were honored in a series of Twitter postings made today by Karony.
What is SafeMoon?
SafeMoon, one of the more recent cryptocurrencies to enter the market in the previous year, garnered a great deal of interest, drawing a large number of investors who put their money on the line for the project. SafeMoon is a BEP-20 token created by a group of six individuals and released on the Binance Smart Chain (BSC), a centralized ecosystem and a rival to Ethereum's decentralized ecosystem.
Developers of SafeMoon say the project was created to encourage long-term investment and the token's tagline was "Safely to the Moon." The project also hired well-known celebrities to increase investor interest and boost the number of investors that joined, which led to a 20,000% increase in the price of the altcoin. SafeMoon is currently facing a class-action lawsuit on the grounds of the altcoin being a pump and dump scheme. It was also referred to as a Ponzi scheme by some crypto experts, as the 10% transaction fee for purchasing tokens goes back to its earlier investors.
Speculations Around SafeMoon and Charles Karony
While stepping down from his position, Karony reiterated his commitment to the project. Although he's going to college, there have been speculations that Karony is leaving the project as a consequence of the current class-action lawsuit, however, this has not been confirmed.
SafeMoon peaked at a price of $0.000012 in April of last year and is currently trading at $0.0000005106.
