SafeMoon Logo PNG
SafeMoon launched in March 2021 on Binance Smart Chain, during the DeFi and meme-coin surge linked to Dogecoin. SafeMoon LLC issued it and is registered in Pleasant Grove, Utah. Kyle Nagy created the project, with Braden John Karony as CEO and Thomas Smith as CTO. The name combined “safe” with the crypto phrase “to the moon,” positioning the token as a safer path to rapid growth.
Its tokenomics charged a 10% fee on each transaction: 5% was redistributed to holders, and 5% was added to a Binance Coin liquidity pool. The team said that the pool was locked. From 12 March to 20 April 2021, the price rose by more than 55,000%, with market value reported at $5.7 billion, or, by other estimates, above $8 billion. Barstool Sports founder Dave Portnoy publicly said he had invested over $40,000.
On 20 April 2021, reports indicated that the liquidity pool was not locked, and the token fell by almost 50% in one day. Later SEC and US Department of Justice filings alleged that Karony and others used misappropriated funds to buy SafeMoon and to support its price. Karony was also accused of wash trading through an account he controlled.
In October 2021, SafeMoon released the updated SFM token. In 2022-2023, the team announced a blockchain, exchange, and hardware wallet, but none launched. On 1 November 2023, the SEC and DOJ charged SafeMoon LLC, Nagy, Karony, and Smith with securities fraud, wire fraud, and money laundering, alleging that over $200 million had been taken from the liquidity pool. In November 2023, SafeMoon filed for Chapter 7 bankruptcy. In May 2025, Karony was convicted on all three counts.
Meaning and History
What is SafeMoon?
This cryptocurrency operates on the Binance Smart Chain. It has gained attention for its tokenomics, which include a transaction tax added to the liquidity pool and distributed among token holders. This mechanism encourages long-term holding and discourages selling, and the token is called “SafeMoon.” Beyond creating the token, the organization is building its own wallet and aims to develop a larger ecosystem, including a blockchain and an exchange.
2021 – 2023
SafeMoon’s lunar theme grew out of “to the moon,” an expression cryptocurrency traders use to describe expectations of a sharp price increase. Launched in March 2021, the project combined “safe” and “moon” in its name. The slogan “Safely to the moon” extended the idea of a safe journey to the Moon.
The team invited the community to help create a new logo within SafeMoon’s first few weeks. A competition was announced on March 16, 2021. Submissions were collected through Discord, after which the developers and moderators planned to select five finalists for a Reddit vote. Designers were asked to consider the token’s ticker symbol. The winner was promised 500 million SafeMoon tokens and a place on the creative team.
The emblem combined a moon, a shield, and a rocket. A nearly complete circle with craters forms the outer outline. At the bottom, the line turns inward and becomes the shield’s right side, while its left side ends separately, leaving a gap. Inside is an upward-pointing rocket with a pointed nose, a short body, and two fins near its base. A small flame sits apart from the body. The interlocking outlines of the moon and shield enclose the rocket in a compact circle.
The turquoise outlines of the moon and shield are thicker than the rings and arcs depicting the craters. In the gradient version, the rich color at the top becomes lighter toward the bottom. The black-and-white versions retained the emblem’s overall shape. The dark silhouette stood out against the surrounding turquoise lines, while the white version was used beginning in April 2021.
The emblem appeared on its own or alongside the name. In the horizontal version, the lettering sat to the right. In the vertical version, it appeared beneath the emblem. The vertical layout used “SAFEMOON” in uppercase sans-serif letters. Their elongated forms combined straight sections with rounded corners. Heavy strokes in “SAFE” gave way to thin lines in “MOON,” distinguishing the two parts of the name. Both “O” letters resembled rounded rectangles.
On December 14, 2023, SafeMoon LLC filed for Chapter 7 bankruptcy and ceased operations.