Greenfield reports governance issues at Safe Ecological Foundation to Swiss regulators

PANews reported on October 4 that according to Jascha Samadi, a partner of Greenfield Capital, a European institutional-level digital asset investment company, the company has officially submitted a regulatory complaint against the Safe Ecological Foundation to the Swiss Federal Fund Supervisory Authority (ESA). As a long-term holder since 2022, Greenfield Capital noted that Safe is losing significant market share in the self-custody infrastructure space: Since the beginning of 2024, the value of assets held by Safe accounts has fallen from approximately $66 billion to approximately $30 billion, while during the same period DeFi TVL has grown by approximately 40% and stablecoin supply has grown by 135%, but stablecoins held by Safe have only grown by 11%. Greenfield Capital believes that the root cause of the above problems lies in the governance failure of the foundation.