SAFEMOOON only launched in 2021 but has already captured the attention of millions of cryptocurrency investors.
But who is SafeMoon CEO John Karony?
Who is John Karony?
John Karony is the CEO of SafeMoon.
He went to Utah University but decided it wasn’t for him at the time so joined the military “as a chance to do some good and to educate myself through real-world experiences all over the world.”
Karony said: “I figured I could make some money but soon realized what I was doing wasn’t actually solving any problems.
“So that chapter led to my next big step: impact work in West Africa.
“The fundraising aspects of the work I initially encountered in West Africa weren’t structured and managed in a way I could align with or support.
“Many aspects of the initial work I saw did not provide a path for effective and sustainable outcomes.”
While in Africa, Karony noticed problems with the supply chain firsthand, so he decided to start an import/export company.
But as he started to learn the import and export system and understand how to move products in and out of the continent, Covid started.
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He said: “I went into business because I had a really bad boss and I’d never want to work with them again.
“In my case, while serving in Afghanistan as an all-source data analyst for the US Military, I quickly came to the conclusion that if I was going to die, it should be the result of my own decisions and actions.
“I would not die at the direction of others.
“It’s a little different verbiage than the traditional theme, but it represents the same basic ethos.”
Karony said: “I got a call about getting involved in the supply and distribution of PPE, which was a nightmare entirely on its own.
“Everyone kept going back to the supply chain to look for masks.
“They thought this was where the supply chain issue was but this was not the case.
“People in both hemispheres hoarded masks and protective equipment to do back-end deals.
“The model was so messed up that I hated it, both practically and ethically.”
After launching his import/export business, he found out about SafeMoon from a connection in Canada.
Days later Karony had talks with the team at SafeMoon. “They were planning to build a DeFi (decentralized finance) system and wanted to do it properly.
“I was captivated by the opportunity and brought over my team,” the now CEO said.
Karony’s vision is that someone in a third-world country can use crypto technology to participate in collaboration, exchange of value and innovation as quickly as anyone in the most developed parts of the world.
The entrepreneur said: “I kept running into leaders, in both business and other areas of my life, who were focused on the wrong things.
“Whether it be self-promotion, self-destruction or the ‘bottom line’ – I knew there had to be so much more.
“I know you need resources to do good in the world, and the entrepreneurial lifestyle appealed to me as the way to achieve them.
“So I set off to learn, and I’ve learned best by doing.”
Karony believes there’s huge potential in Africa. “I spent my formative younger years living in Kenya and Ethiopia. I then spent some time studying it for some of my previous positions,” he said.
Karony’s main goals are to “A) Forge an organization committed to creating impact, B) sustaining our work and funding our own growth to every degree possible, and C) measuring success by the depth and breadth of our influence for good on as many people and regions of the world as possible.”
What is SafeMoon?
SafeMoon is a DeFi (decentralized finance) token – a cryptocurrency which aims to cut out institutions (e.g. banks and government bodies) through blockchain technology.
The cryptocurrency launched on March 8, 2021 and soon exploded to a market capitalization of nearly $1 billion.
What makes SafeMoon different from other DeFi tokens is it charges sellers a 10 per cent fee and redistributes half to other holders as an incentive to buy and hold the cryptocurrency.
SafeMoon hopes to solve to problems that plague the industry: investors’ panic selling and extreme volatility.
How to buy SafeMoon
You can buy SafeMoon on one of four exchanges: PancakeSwap, BitMart, Gate.io and WhiteBit.
You can also read 24/7 Crypto’s guide on how to purchase SafeMoon on eToro HERE.
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Is SafeMoon a good investment?
With all the hype surrounding SafeMoon, it’s valid to wonder if it’s safe.
Some analysts have some concerns with the cryptocurrency as to put it bluntly SafeMoon doesn’t actually do anything.
The entire purpose is for people to purchase it and drive up the price.
Cryptocurrencies have proven to be extremely volatile.
If you are willing to take the risk by investing in a cryptocurrency, make sure you understand what you are investing in and do your own research.
Also, don’t invest simply because you have a fear of missing out.