Greenfield Capital says it has filed a complaint with Swiss regulators over governance issues at the Safe Ecosystem Foundation
BIBIBI
AT A GLANCE
Greenfield Capital says it has filed a complaint against the Safe Ecosystem Foundation with Swiss regulators and attributes its loss of market share to governance failure.
Article
Greenfield Capital reports governance problems at the Safe Ecosystem Foundation to Swiss regulators
PANews October 4 reported that, according to the disclosure by Jascha Samadi, partner at a European institutional digital asset investment firm,Greenfield Capital the company has formally filed a regulatory complaint against the Safe Ecosystem Foundation with the Swiss Federal Supervisory Authority for Foundations (ESA). As a long-term holder since 2022,Greenfield Capital said that Safe’s market share in the self-custody infrastructure sector is declining significantly: since the beginning of 2024 the value of assets held in Safe accounts fell from approximately 66000000000 USD to approximately 30000000000 USD, while DeFi TVL grew by approximately 40%, stablecoin supply grew 135%, but the stablecoins held by Safe grew by only 11%。 Greenfield Capital argued that the root cause of these problems is the foundation’s governance failure. Since 2...
Greenfield Capital Jascha Samadi, a partner, disclosed that the company had filed a regulatory complaint against the Safe Ecosystem Foundation with the Swiss Federal Supervisory Authority for Foundations (ESA).
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Greenfield Capital said that it has held the relevant assets since 2022.
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Greenfield Capital said that since the beginning of 2024 the value of assets held in Safe accounts fell from approximately 66000000000 USD to approximately 30000000000 USD。
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The original text says that DeFi TVL grew by approximately 40%, stablecoin supply grew 135%, while the stablecoins held by Safe grew by 11%。
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Greenfield Capital believes that the root cause of these problems is the foundation’s governance failure.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
The core of this news is that an investment company claiming to be a long-term holder complained to Swiss regulators about the Safe Ecosystem Foundation and used data on Safe account asset size and stablecoin growth to show poor competitive performance. Governance failure is Greenfield Capital’s assessment, not a regulatory conclusion already confirmed by the original text.
Why it matters to readers
The regulatory complaint and governance allegations may prompt market participants to examine the Safe Ecosystem Foundation’s governance practices, as well as the difference between the asset size of Safe accounts and market growth.
Beginners should distinguish between “a complaint has been filed” and “the regulator has accepted it, opened an investigation, or determined that a violation occurred”; the article only clearly mentions the former. The asset and growth data in the article also constitute claims made by Greenfield Capital.
Risks and unknowns
The original text is truncated, so the full reasons, evidence, and specific requests in the complaint cannot be known.
The original text does not confirm whether the Swiss Federal Supervisory Authority for Foundations has accepted the complaint, opened a case, or launched an investigation.
The original text does not confirm whether the Safe Ecosystem Foundation has responded to the complaint or the governance allegations.
The calculation methodology, sources, and verifiable materials for the complaint documents and the data in the article are not shown in the available text.
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Governance failure is an allegation by Greenfield Capital and cannot yet be regarded as a regulatory fact.
Related concepts
Self-custody
Self-custody is a way for users to protect and manage their assets themselves while retaining direct control over them.
