Cointelegraph and CryptoBriefing agree Greenfield Capital filed a Swiss regulatory complaint over Safe's governance, but their reported dollar figures for value held in Safe accounts differ by a factor of ten.
Cointelegraph and CryptoBriefing agree Greenfield Capital filed a Swiss regulatory complaint over Safe's governance, but their reported dollar figures for value held in Safe accounts differ by a factor of ten.
What all sources agree on
- Greenfield Capital, an investor in Safe, filed a complaint with Switzerland's Federal Supervisory Authority for Foundations (ESA).
- The complaint followed months of failed attempts to get the Safe Ecosystem Foundation to restructure its board.
- Greenfield sought the addition of independent board members.
- The dispute centers in part on board member Stefan George's role at Gnosis, a company whose products compete with Safe.
- DeFi total value locked grew approximately 40% over the comparison period, while stablecoin supply grew roughly 135%.
- Greenfield argues Safe has lost ground relative to the broader DeFi and stablecoin markets despite overall growth in those sectors.
Where the reports disagree
1Total dollar value held in Safe accounts, early 2024 vs. now
Samadi said between January 2024 and August 2026, total value held in Safe accounts fell from $66 billion to $30 billion, declining more than 50%, while total DeFi total value locked grew 40%.
Assets held in Safe fell from approximately $6.6 billion in early 2024 to around $3 billion now.
What would settle it: Greenfield Capital's open letter or underlying data cited by Samadi, or on-chain Safe account balance data for the stated period.
What to make of it
Treat the existence of the ESA complaint and the governance dispute itself as established; the two outlets report the same percentage decline but a tenfold difference in the absolute dollar figures for value held in Safe accounts, so do not cite either specific dollar figure as settled until the underlying data or Greenfield's letter is checked.
Treat the existence of the ESA complaint and the governance dispute itself as established; the two outlets report the same percentage decline but a tenfold difference in the absolute dollar figures for value held in Safe accounts, so do not cite either specific dollar figure as settled until the underlying data or Greenfield's letter is checked.
