SafeMoon was promoted by celebrities, but now its price has crashed 85% as it pivots to wind turbines and expansion in Africa amid lawsuits.
Memecoins and DeFi are two of the riskiest, but potentially most profitable, plays in crypto. Now investors are moving to Puerto Rico to skip a hefty tax bill.
There's a flood of new tokens. Billions are on the line. Anonymity is commonplace. Everyone—creators, investors, hackers, promoters—is cashing in.
Backed by Lil Yachty, Jake Paul and one of the Backstreet Boys, Safemoon has made people rich despite having no clear use.
SafeMoon is megaviral, has famous fans, and promises investors eventual riches. For some, the risky investment sounds like it's just too good to be true.