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BTC $70,167.14 +4.48%
ETH $2,047.70 +3.41%
BNB $644.84 +3.43%
XRP $1.42 -4.56%
SOL $81.67 -4.53%
TRX $0.2795 -0.47%
DOGE $0.0974 -3.83%
ADA $0.2735 -4.22%
BCH $449.09 -0.19%
LINK $8.64 -2.97%
HYPE $28.98 -1.81%
AAVE $122.61 -3.42%
SUI $0.9138 -6.63%
XLM $0.1605 -4.62%
ZEC $260.31 -8.86%

safe

Bybit releases updates on employee safety and operational arrangements in the UAE

Due to the situation in the Middle East, Bybit has activated its regular security and business continuity management mechanism (BCP) to ensure the safety and operational stability of the teams in Dubai and Abu Dhabi. The company stated that the global system is currently operating stably, and core trading and user assets are not affected. Management is closely monitoring regional developments and will update internal and external communications in a timely manner based on official information.Key arrangements are as follows:Bybit has launched a cross-departmental BCP response mechanism, led by Co-CEO Helen Liu, to confirm the safety status of all UAE employees one by one, establish daily follow-ups and emergency contact mechanisms; provide remote work support, accommodation coordination, co-living arrangements, and medical life assistance;Business arrangements: designated backups for key positions, cross-regional support, office equipped with 8 hours of power backup, and stable operation of systems and user asset security;Personnel arrangements: UAE employees can choose to work remotely or use the office as a protective location, temporary departure can be applied for; overseas employees must report their travel plans and may postpone their return; all transfers of employees planned to be moved to the UAE are temporarily suspended.Helen Liu emphasized, "Employee safety is the top priority," and the company will continue to communicate transparently to ensure business continuity and convey confidence to users and the community.

Former SafeMoon CEO sentenced to 8 years in prison

According to Coindesk, the U.S. District Court for the Eastern District of New York sentenced former SafeMoon CEO Braden John Karony to 8 years in prison this Tuesday. Braden was found guilty of multiple federal charges last year for committing fraudulent acts against investors in his digital asset business.According to the U.S. Department of Justice's allegations, Karony was involved in manipulating the price of SafeMoon tokens and stole millions of dollars through illegal liquidity control of the company. After a three-week trial, he was convicted of conspiracy to commit securities fraud, wire fraud, and money laundering. Co-conspirator Thomas Smith pleaded guilty to conspiracy to commit securities fraud and wire fraud in February 2025 and has not yet been sentenced. Another alleged co-conspirator in the SafeMoon fraud case, Kyle Nagy, is still wanted by authorities.It is reported that SafeMoon (SFM) is a cryptocurrency token launched in March 2021, born during the last bull market's meme coin and DeFi craze. Its tokenomics stipulate a 10% tax on each transaction, with a portion (usually 5%) automatically distributed to all holders, another portion added to the liquidity pool, tokens burned to create deflation, and a part allocated for project development. The design concept is to "encourage holding and punish selling," allowing holders to passively earn tokens, with hopes that the price can "safely go to the moon." Its market cap once reached $1 billion, attracting a large number of retail investors and FOMO players. Subsequently, the project contract was hacked, the team was accused of fraud, manipulating liquidity, and misappropriating funds. After a prolonged decline, its current market cap is only $2.08 million.
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