Crypto firm SafeMoon US LLC filed for bankruptcy in a Utah court on Thursday, a month after its executives were accused by federal prosecutors of using millions of dollars of investor funds to buy luxury homes and sports cars.
The Chapter 7 filing — a process which means the firm intends to liquidate its assets and shut down operations — said SafeMoon had between $10 million and $50 million in estimated assets. Its liabilities were estimated at a maximum of $500,000, with up to 99 estimated creditors.
The US Department of Justice and Securities and Exchange Commission sued the three ...
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