Swiss Watchdog Sought Safe Ecosystem Intervention in Governance Dispute

Key Summary

Greenfield Capital, a significant investor in Safe Ecosystem Foundation, has filed a supervisory complaint with Switzerland's Federal Supervisory Authority for Foundations, seeking changes to the foundation's board due to governance concerns. The complaint comes after months of engagement failed to resolve issues, including underperformance relative to the broader market and a lack of independent voices on the board. Greenfield's founding partner, Jascha Samadi, stated that Safe's annualized revenue in the second quarter was $8 million, significantly below the expected $20 million for 2026. This underperformance has led to a 50% decline in total value held in Safe accounts from $66 billion to $30 billion.