Scanned PANews: Safe early institutional investor Greenfield Capital has officially filed a complaint with the Swiss Federal Supervisory Authority for Financial Markets (FINMA/ESA) regarding governance issues of the Safe Ecosystem Foundation.
The figures they provided are quite striking—since the beginning of 2024, the assets in Safe accounts have fallen from about $66 billion to about $30 billion; over the same period, DeFi TVL has grown by about 40%, and stablecoin supply has increased by 135%, yet stablecoins on the Safe side have only risen by about 11%. Greenfield says that multiple times they recommended replacing independent directors and setting quantified KPIs, but nothing has been implemented. So they took the regulatory route, emphasizing that it is not about seizing control.
The multisig infrastructure has essentially been cut in half; investors are going directly to Swiss regulators—these kinds of issues used to be debated mostly on forums, but now the level has been raised.
$SAFE #Safe #governance
The figures they provided are quite striking—since the beginning of 2024, the assets in Safe accounts have fallen from about $66 billion to about $30 billion; over the same period, DeFi TVL has grown by about 40%, and stablecoin supply has increased by 135%, yet stablecoins on the Safe side have only risen by about 11%. Greenfield says that multiple times they recommended replacing independent directors and setting quantified KPIs, but nothing has been implemented. So they took the regulatory route, emphasizing that it is not about seizing control.
The multisig infrastructure has essentially been cut in half; investors are going directly to Swiss regulators—these kinds of issues used to be debated mostly on forums, but now the level has been raised.
$SAFE #Safe #governance
