SafeMoon SFM Token Settlement

Exchange-bought SFM does not qualify. Three settlements, three claim forms, and a class definition much narrower than "I bought SafeMoon." The SafeMoon SFM token settlements resolve investor claims in Combs v. SafeMoon LLC, No. 2:22-cv-00642 (D. Utah), alleging that SFM tokens were sold as unregistered securities and promoted through misleading solicitations. Judge David Barlow preliminarily approved all three on June 22, 2026. Four things decide whether this page is worth your time. First, and most important: holding SFM during the class period does not put you in any of these classes. Each of the three court-authorized notices defines its class as people who bought SFM Tokens directly from one named defendant between March 8, 2021 and November 1, 2023, or, alternatively, who saw a solicitation that that defendant published and bought because of it. The three defendants are SafeMoon US, LLC (settling through its Chapter 7 bankruptcy trustee), Jake Paul and Daniel M. Keem. If you bought your SFM on an exchange or a decentralized exchange and no solicitation from those three drove the purchase, the notices do not provide a class that covers you. Second, the "$12 million" is one fund of three, and the other two are tiny. The trustee settlement is approximately $12,000,000, with an estimated net fund of about $10,000,000 after a fee request capped at 16.375%. Jake Paul's is $200,000, netting about $134,000 after a separate 33% cap. Daniel Keem's is $90,000, netting about $61,000. Those caps and the minimum payments apply per settlement, not to the case as a whole — the trustee settlement withholds any distribution under $50.00, while Paul and Keem withhold under $10.00. Third, the good news: these stack. A buyer who fits more than one class definition can file in more than one settlement and be paid separately from each fund. Nothing on these forms makes you choose. But each settlement needs its own DocuSign form, and the one shortcut — skipping the trustee Class Claim form because you filed a proof of claim in the bankruptcy by July 22, 2024 — does not carry over to the Paul or Keem forms. Fourth, the window has already narrowed. The deadlines to opt out and to object passed on October 1, 2026. Filing by November 9, 2026 is the only move left; the Settlement Fairness Hearing is set for October 22, 2026. Payment is pro rata on documented purchase and sale records, there is no fixed amount, and a claimant whose SFM trading produced an overall gain recovers nothing.

Do I Qualify?

You may be eligible if:

• YOU BOUGHT SFM TOKENS DIRECTLY FROM ONE OF THE THREE NAMED DEFENDANTS between March 8, 2021 and November 1, 2023 — that is, from SafeMoon US, LLC, from Jake Paul, or from Daniel M. Keem — OR you saw a solicitation for SFM Tokens published by one of those three and bought SFM Tokens because of that solicitation. Each settlement names exactly one of them, so check yourself against each separately
• THIS IS THE EXCLUSION THAT DISQUALIFIES MOST SEARCHERS: buying SFM on an exchange or a decentralized exchange, from a third party, or on your own initiative does not satisfy any of the three class definitions. Holding the token through the collapse is not the test. How and why you bought is the test, and the notices offer no residual class for ordinary secondary-market buyers
• YOU MAY QUALIFY FOR MORE THAN ONE, AND SHOULD CHECK ALL THREE. The classes overlap deliberately. Buying directly from SafeMoon US and separately buying because of a Jake Paul solicitation puts you in two classes, and you may file in both and be paid from both funds
• YOUR SFM TRADING PRODUCED AN OVERALL MARKET LOSS. If your overall transactions in eligible tokens produced a market gain, your Recognized Claim is zero and you receive nothing — while remaining bound by the settlement. A loss smaller than your calculated Recognized Claim caps the claim at your actual market loss
• YOUR CALCULATED DISTRIBUTION CLEARS THE MINIMUM FOR THAT SETTLEMENT, AND THE MINIMUMS DIFFER. Under $50.00 in the trustee settlement, or under $10.00 in the Jake Paul or Daniel Keem settlements, and no distribution is made to you at all. Small positions in the two celebrity funds, which net roughly $134,000 and $61,000 in total, are the likeliest to be zeroed out this way
• YOU ARE A PERSON OR AN ENTITY ANYWHERE IN THE UNITED STATES. All three classes read "all persons and entities" with no residency requirement, despite the case sitting in the District of Utah
• YOU CAN DOCUMENT THE WALLET OR ACCOUNT YOU BOUGHT THROUGH. No notice ID is required, but the claim form asks for the account number or wallet address used for your SFM purchases, the last four digits of your Social Security or Taxpayer I.D. Number, and a copy of an IRS Form W-9. The Trustee and her Advisors verify each wallet address after submission to determine the claim amount
• YOU FILE BY NOVEMBER 9, 2026 and you did not exclude yourself from the class by October 1, 2026
• WHO DOES NOT QUALIFY: anyone whose SFM purchases were not from, and not caused by a solicitation published by, SafeMoon US, Jake Paul or Daniel Keem; anyone with an overall market gain; anyone whose pro rata share falls under that settlement's minimum; and, expressly, any person named as a Defendant in the operative complaint, including SafeMoon's founders, former officers and directors, their immediate family members, legal representatives, heirs, successors or assigns, and any entity in which they have or had a controlling interest

No notice ID is needed, and that is the one thing here that is easier than usual. Unlike settlements gated behind a mailed claimant ID, these claims are open to anyone who can establish membership and a loss. What they ask for instead is your transaction trail. What the claim form requires. The Proof of Claim and Release asks for the claimant's name and contact details, the last four digits of the Social Security Number or Taxpayer Identification Number of the beneficial owner, and the account number or wallet address used for the SFM purchases. If you are filing for multiple wallets or account types, the form directs you to add a separate page identifying each one. The wallet address is verified, not taken on trust. The form states that the Trustee and her Advisors will verify each wallet address after submission in order to determine the claim amount. Your payment is computed from what that verification shows about purchases through November 1, 2023 and sales through December 14, 2023 — so the wallet or account you name is doing the work a receipt would do elsewhere. Give the addresses that actually hold the history. A W-9 is required. The Proof of Claim instructs claimants to provide a copy of an IRS Form W-9 with the claim. The Jake Paul and Daniel Keem forms also ask how you bought. Each carries a check box recording whether you purchased the tokens directly from that defendant or purchased because of a solicitation that defendant published — the two prongs of the class definition. Answer it from what actually happened; it is the question that decides whether you are in that class at all. The signature is sworn. The claim form's signature block is a declaration under penalty of perjury under the laws of the United States that all information submitted is true and correct. One shortcut, and it is narrower than it looks. If you filed a proof of claim with the Bankruptcy Court on or before July 22, 2024, you do not need to complete a trustee Class Claim form — though the Trustee or her Advisors may request additional information from you. The Trustee has directed, under the Bankruptcy Court's claims bar date order, that claims submitted by SafeMoon tokenholders be kept confidential unless that court orders otherwise. This shortcut does not extend to the Jake Paul or Daniel Keem settlements, which still require separate forms from you.

What Happened?

SafeMoon was a cryptocurrency and blockchain company based in Pleasant Grove, Utah, created in March 2021. The complaint alleges the value of the SFM Token rose exponentially in its first month, with market capitalization reaching billions of dollars by April 2021. Investors allege SFM tokens were sold as unregistered securities and promoted through misleading solicitations, including by celebrity promoters.

The securities action was filed on February 17, 2022 in the Central District of California against SafeMoon entities, company executives and several celebrity promoters. Lead Plaintiffs Mark Combs, Vlad Iacob and Benjamin Northey were appointed on June 7, 2022, with Scott+Scott Attorneys at Law LLP as Lead Counsel. The case was transferred to the District of Utah on October 5, 2022 and assigned to Judge David Barlow. The operative complaint was filed on March 17, 2023.

On November 1, 2023 an indictment was unsealed in the Eastern District of New York charging various individuals including former SafeMoon CEO Braden John Karony, and the SEC filed a civil complaint the same day. On May 21, 2025 a jury convicted Karony of securities fraud conspiracy, wire fraud conspiracy and money laundering conspiracy. Karony remains a defendant in this civil action and has not settled.

SafeMoon US, LLC filed for Chapter 7 bankruptcy on December 14, 2023, and the automatic stay halted the securities action against it. Ellen E. Ostrow was appointed Chapter 7 trustee for the estate, and the trustee settlement is made with her in that capacity — she is a fiduciary for SafeMoon's creditors and had no relationship with the company before the bankruptcy. The Bankruptcy Court authorized her to seek approval of the settlement in the District Court.

Jake Paul and Daniel M. Keem settled separately and deny all wrongdoing and liability, settling without any admission. The Jake Paul Stipulation is dated February 2, 2026; the trustee's Stipulation is dated September 10, 2025.

The court rejected an earlier version of these settlements in March 2026 because the class had not been shown to meet the requirements for certification. On June 22, 2026, in a Memorandum Decision and Order, the court granted the renewed motions and preliminarily approved all three settlements — over the opposition of Karony, who opposed preliminary approval. Notices then issued and Stretto opened claims.

Where things stand: no final approval order has been entered. The Settlement Fairness Hearing before Judge Barlow is set for October 22, 2026 at 10:00 a.m. at the Orrin G. Hatch U.S. Courthouse in Salt Lake City, where the court will consider final approval, the fee requests and the awards to the Lead Plaintiffs. The notices warn the hearing may be moved without further notice. No payment date has been announced, and the trustee settlement additionally requires Bankruptcy Court approval before distributions are made.

How to File Your Claim

1. WORK OUT WHICH OF THE THREE YOU ACTUALLY QUALIFY FOR FIRST. Each settlement has its own class, its own claim form and its own fund. Qualifying means you bought SFM Tokens directly from that particular defendant between March 8, 2021 and November 1, 2023, or, alternatively, that you saw a solicitation for SFM Tokens that that particular defendant published and bought because of it. Buying SFM on an exchange, without any of the three defendants' solicitations behind the decision, does not get you into any of these classes
2. FILE ONLINE at the official court-authorized settlement website, www.SafeMoonSettlement.com, run by Stretto as Claims Administrator. Its File a Claim page links out to three separate DocuSign PowerForms — one for the trustee Class Claim, one for the Keem settlement and one for the Paul settlement. This is the only website the District of Utah has authorized to accept claims in this case
3. FILE A SEPARATE FORM FOR EACH SETTLEMENT YOU QUALIFY FOR. The administrator's File a Claim page is explicit that anyone who wants to share in the Net Settlement Funds for the Jake Paul and/or Daniel M. Keem settlements must file a separate claim for each of those settlements. There is no combined form and filing one does not register you for the others
4. THE BANKRUPTCY SHORTCUT APPLIES TO THE TRUSTEE SETTLEMENT ONLY. If you previously filed a proof of claim with the Bankruptcy Court on or before July 22, 2024, you do not need to complete a trustee Class Claim form, though the Trustee or her Advisors may request additional information from you. That shortcut does nothing for the Paul and Keem settlements — those still require their own forms from you
5. HAVE YOUR PURCHASE RECORDS READY. The claim forms ask for your name and contact details, the last four digits of your Social Security or Taxpayer Identification Number, and the account number or wallet address used for your SFM purchases. If you are filing for more than one wallet or account type, the form directs you to add a separate page identifying each. The Trustee and her Advisors verify each wallet address after submission to determine the claim amount
6. ATTACH A W-9 AND SIGN THE RELEASE. The Proof of Claim and Release instructs claimants to provide a copy of an IRS Form W-9 with the claim, and the signature block is a declaration under penalty of perjury under the laws of the United States that the information submitted is true and correct
7. PREFER PAPER? Mail the completed Proof of Claim to the address designated on the form, postmarked no later than November 9, 2026. The administrator is SafeMoon US Claims Processing, c/o Stretto, 410 Exchange, Suite 100, Irvine, CA 92602
8. ONE DEADLINE, TWO MECHANICS. November 9, 2026 is the claim deadline for all three settlements — received by then if filed online, postmarked by then if mailed. The notices warn that failure to submit by then will subject your claim to rejection
9. QUESTIONS? Call the Claims Administrator at 1-855-761-3061 or email info@SafeMoonSettlement.com. The notices also list John T. Jasnoch of Scott+Scott Attorneys at Law LLP, a representative of Lead Counsel, at 1-800-332-2259, and say you can ask for free help if you are unsure whether you are a class member
10. Visit the official claim form: https://www.safemoonsettlement.com/

How Much Will I Actually Get?

NO FIXED AMOUNT, AND NOTHING HERE IS A PER-PERSON FIGURE. All three settlements pay the same way: each Net Settlement Fund is divided among Authorized Claimants pro rata, in proportion to each claimant's Recognized Claim as a share of the aggregate Recognized Claims of everyone who files. Until claims are in, no individual payment can be estimated, and the notices do not publish a per-token or per-claimant estimate. THE "$12 MILLION" IS ONE OF THE THREE FUNDS, NOT THE TOTAL, AND THE THREE ARE WILDLY DIFFERENT SIZES. This is the single most misleading thing about the headline. Taking the notices in turn: TRUSTEE SETTLEMENT — an initial cash fund of approximately $12,000,000. The notice says that should the Court award attorneys' fees of up to 16.375% of the estimated fund (or $1,965,000), Lead Counsel's expenses of up to $70,000 and an award to the Lead Plaintiffs of up to a combined $15,000, the estimated Net Settlement Fund will be approximately $10,000,000. Minimum distribution: $50.00. JAKE PAUL SETTLEMENT — $200,000 in cash. Should the Court award fees and expenses of up to 33% of the fund (or $66,000), the Net Settlement Fund will be approximately $134,000. Minimum distribution: $10.00. DANIEL KEEM SETTLEMENT — an initial payment of $90,000 in cash. Should the Court award fees and expenses of up to 33% of the fund (or $29,000), the Net Settlement Fund will be approximately $61,000. Minimum distribution: $10.00. THE FEE CAPS AND THE MINIMUMS ARE PER-SETTLEMENT, NOT GLOBAL. Note what that list shows: the 16.375% fee cap applies to the trustee fund alone, and a separate 33% cap applies to the Paul fund and to the Keem fund. Likewise the $50.00 minimum distribution belongs to the trustee settlement only, while the Paul and Keem settlements use $10.00. Neither cap governs the case as a whole. THE CELEBRITY FUNDS ARE SMALL IN A WAY THE HEADLINE HIDES. $134,000 and $61,000 are the net amounts available to be split pro rata among every Authorized Claimant in those classes. Against a token whose market capitalization the complaint says reached billions of dollars in April 2021, individual payments from the Paul and Keem funds are likely to be very small. The trustee fund is roughly seventy-five times the size of the Paul fund. YOU CAN COLLECT FROM MORE THAN ONE — THESE ARE CUMULATIVE, NOT A CHOICE. There is no election to make and no either-or on these forms. A buyer who satisfies two or three of the class definitions may file in two or three of the settlements and be paid separately out of each fund. What you decide is how many claim forms to submit, not which benefit to take. HOW YOUR RECOGNIZED LOSS IS COMPUTED. For eligible tokens purchased on or after March 8, 2021 and on or before November 1, 2023, the Recognized Loss equals (a) the amount you paid for those tokens during that period, less (b) the amount, if any, you received from selling them on or before December 14, 2023. Cryptocurrency used to buy or received on a sale is converted to U.S. dollars at the market price of that cryptocurrency on the applicable acquisition or sale date. Purchase and sale prices exclude fees and commissions. Multiple purchases and sales are matched First-In, First-Out. A negative result is set to zero. Tokens received by gift, devise or operation of law are not treated as a purchase or sale. TWO WAYS A VALID CLASS MEMBER STILL GETS NOTHING. If your overall transactions in eligible tokens produced a market gain, your Recognized Claim is zero and you recover nothing, though you remain bound by the settlement. And if you had an overall market loss smaller than your calculated Recognized Claim, the claim is capped at your actual market loss. NOTHING IS PAID YET, AND THE TRUSTEE FUND NEEDS A SECOND COURT. The notices state that no Net Settlement Fund is distributed unless and until the Courts have approved the settlement and the time for any petition for rehearing, appeal or review has expired. The Settlement Fairness Hearing before Judge Barlow is set for October 22, 2026 at 10:00 a.m. in Salt Lake City, and the notices warn the hearing may be moved without further notice. The trustee settlement carries an extra layer: distributions are made in the discretion of the Trustee as approved by the Bankruptcy Court, and the Trustee may file objections to individual Proofs of Claim before that court. No payment date has been announced. ONE POSSIBLE UPSIDE, ALSO LIMITED TO ONE FUND. The trustee notice says that depending on the outcome of additional proceedings in the Bankruptcy Court pursuing recoveries on other assets of the Estate, there is a possibility of a subsequent payment into that Settlement Fund. No figure is attached to it, and it does not apply to the Paul or Keem settlements.

Last reviewed: October 9, 2026 | Information verified from court records and official settlement documents.

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