SafeMoon CEO Braden Karony is actively seeking to have the fraud charges against him dismissed, leveraging a significant policy change from the U.S. Department of Justice (DOJ) as part of his defense. In a recent court letter, Karony’s attorney contends that the DOJ’s decision to disband its crypto enforcement unit undermines the government’s capacity to pursue charges related to digital assets. This motion is part of a broader effort by Karony to evade prosecution in a high-profile case involving the alleged misappropriation of $200 million from investors.
Legal Argument and Case Background
In correspondence addressed to Judge Eric Komitee, Karony’s legal representative highlighted a memo issued by Deputy Attorney General Todd Blanche, which announced the dissolution of the DOJ’s crypto enforcement unit. The memo, dated April 7, clarified that the DOJ does not act as a regulator for digital assets and will no longer engage in prosecutions that depend on classifying crypto tokens as either securities or commodities. Karony’s defense argues that this policy alteration undermines significant aspects of the government’s case, especially those related to alleged violations of securities laws. Last November, the DOJ and SEC charged Karony and other SafeMoon executives with wire fraud, securities fraud, and money laundering, alleging that they misappropriated $200 million in investor funds. Karony asserts that he is not contesting whether SafeMoon’s token qualifies as a security, which aligns with the DOJ’s revised stance. This is not the first time Karony has sought to dismiss the charges; he previously requested a delay based on former President Trump’s favorable views towards crypto. With co-defendant Thomas Smith having pleaded guilty and Kyle Nagy still unaccounted for, Karony remains the central figure in a trial that commenced prior to SafeMoon’s bankruptcy in late 2023.
SFM Price Prediction for April 10, 2025
An analysis of the SFM/USDT hourly chart reveals a bullish trend, with prices approaching a resistance level of around 0.00003589 USDT. A well-defined ascending trendline supports the recent upward movement, indicating strong buying interest. SafeMoon has previously bounced back from the 0.00002700–0.00002600 support range after a steep decline, establishing a robust foundation for the ongoing rally. The Relative Strength Index (RSI) stands at 63, signaling positive market sentiment without reaching overbought territory, suggesting potential for further gains. Additionally, the Moving Average Convergence Divergence (MACD) indicates sustained bullish momentum, highlighted by a golden cross that occurred on April 8, with histogram bars turning positive.
This shift in momentum corresponds with the ongoing upward trend. Should the price successfully surpass the current resistance level, it could trigger a stronger breakout. Conversely, a failure to break through could result in a retest of the trendline or the 0.00003300 support level. Overall, SafeMoon seems to be experiencing a solid short-term uptrend; however, traders should remain vigilant for either confirmation of a breakout or signs of bearish divergence in momentum before making investment decisions.
Legal Uncertainty Meets Market Optimism
Despite facing significant legal challenges, SafeMoon’s recent trading patterns indicate a sense of cautious optimism among investors. With the dissolution of the DOJ’s crypto unit and Karony’s efforts to have the charges dismissed, some market participants perceive a potential reduction in regulatory pressures. Nonetheless, the serious allegations of fraud totaling $200 million continue to cast a shadow over the situation. While technical indicators for SFM suggest short-term upward movement, the overarching market sentiment is contingent upon the outcomes of the legal proceedings. Until there is more clarity, SafeMoon remains a speculative investment, navigating the balance between legal uncertainties and the possibility of price breakthroughs, capturing the attention of the crypto community.
