Greenfield Complains to Swiss Regulator About Governance Issues at Safe Ecosystem Foundation

Greenfield Capital partner Jascha Samadi stated that the company has published an open letter on the Safe community forum and submitted a supervisory complaint to the Swiss Federal Foundation Supervisory Authority (ESA). Greenfield pointed out that after Bybit was hacked in February 2025, Gnosis co-founders Stefan George and Martin Köppelmann requested that other directors and co-founders of Safe forfeit a portion of their SAFE tokens. If they refused, Gnosis would sell its entire holding, which accounts for about 10% of the total supply of SAFE, and distance itself from the project. The relevant parties ultimately accepted the request and completed the token redistribution. The value of assets held in Safe accounts dropped from approximately $66 billion at the beginning of 2024 to about $30 billion (within the range until August 2026). During the same period, the total value locked (TVL) in DeFi grew by about 40%, and the total supply of stablecoins increased by 135%, while the stablecoins within Safe only grew by 11%. Greenfield demands an update to the foundation's board of directors, a change in management with infrastructure expansion experience, and a review of strategy, products, organization, and token economics led by the board. Since the end of 2025, Greenfield has filed complaints directly and through lawyers, stating that the foundation has only established a strategic advisory committee without decision-making power, and the board vacancies are filled internally. The complaints mainly target the governance of the foundation and the composition of the board, not the operations team of Safe Labs.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.