A New York jury has found Braden John Karony, the former CEO of cryptocurrency company SafeMoon, guilty of conspiracy to defraud the United States, money laundering, and wire fraud after a brief deliberation following a two-week trial. The trial, which began with jury selection on May 5, 2025, showcased evidence of Karony's alleged misappropriation of millions of dollars worth of SafeMoon's SFM token. Testifying against Karony was former chief technology officer Thomas Smith, while SafeMoon's creator, Kyle Nagy, reportedly fled to Russia and remains at large. The trial has been interpreted as a critical indicator of how the interim US Attorney for the Eastern District of New York, Joseph Nocella, will approach cases involving digital asset fraud. This verdict marks a significant moment in the ongoing legal landscape surrounding cryptocurrency executives and their accountability.

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