Former SafeMoon CEO insists innocence, blames founder

According to Cointelegraph, former SafeMoon CEO John Karony posted on social media on the first day of his trial in New York, stating that he "did not commit fraud," insisting on his innocence and accusing platform founder Kyle Nagy of being the mastermind behind the embezzlement of funds. Nagy has fled to Russia after being charged. Karony is charged with three counts of securities fraud and money laundering, and the case is expected to be heard until May 26th. He is currently on bail of $3 million.