What is SafeMoon?
{{Infobox organization | formation = 2021 | headquarters = Pleasant Grove, [[Utah]], [[United States|US]] | products = Cryptocurrencies | key_people = Braden John Karony (CEO) | website = https://www.safemoon.com }} '''SafeMoon''' LLC was an American [[cryptocurrency]] and [[blockchain]] company that was created in March 2021.<ref>{{Cite web|last=DeCambre|first=Mark|title=Why is crypto SafeMoon trending, and why is Dave Portnoy using it to diversify his bitcoin exposure?|url=https://www.marketwatch.com/story/why-is-crypto-safemoon-trending-and-why-is-dave-portnoy-using-it-to-diversify-his-bitcoin-exposure-11621361310|access-date=2023-04-10|website=MarketWatch|language=EN-US}}</ref> Their cryptocurrency token was called SafeMoon (SFM) and it was on a [[blockchain]] called Binance Smart Chain. The token charged a 10% fee on every transaction: 5% was sent to people who already had SafeMoon tokens, and 5% was sent to digital wallets controlled by SafeMoon's creators.<ref>{{Cite web|last=Harper|first=Christopher|date=2021-04-23|title=What is SafeMoon - The new cryptocurrency and how it compares to DogeCoin|url=https://www.birminghammail.co.uk/news/uk-news/what-safemoon-new-cryptocurrency-how-20453449|access-date=2023-04-10|website=BirminghamLive|language=en}}</ref><ref>{{Cite web|last=Ostroff|first=Caitlin|title=Dogecoin’s 12,000% Rally Spurs Hunt for Next Crypto Winner|url=https://www.wsj.com/articles/dogecoins-12-000-rally-spurs-hunt-for-next-crypto-winner-11620293371|access-date=2023-04-10|website=WSJ|language=en-US}}</ref> The token reached its highest value in April 2021, but shortly after it lost most of its value.<ref>{{Cite web|title=To the Moon: How One Cryptocurrency Made People Millions Overnight|url=https://www.vice.com/en/article/4avd8p/safemoon-cryptocurrency-made-people-millions|access-date=2023-04-10|website=www.vice.com|language=en}}</ref> In November 2023, the US [[Securities and Exchange Commission]] (SEC) and [[United States Department of Justice|Department of Justice]] (DoJ) charged SafeMoon's m