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      Greenfield Capital Files Complaint Against Safe Ecosystem Foundation in Switzerland

      Greenfield Capital, an early investor in the Safe Ecosystem, has lodged a formal complaint with Switzerland's Federal Supervisory Authority for Foundations (ESA) regarding governance issues at the Safe Ecosystem Foundation, which is based in Zug. This action follows months of unsuccessful attempts by Greenfield to engage directly with the foundation to address its concerns, which include calls for a board restructuring and the addition of independent directors.

      The complaint outlines specific requests from Greenfield, including a comprehensive review of Safe's strategy, product offerings, organization, and tokenomics, accompanied by measurable key performance indicators (KPIs) to track progress. However, the foundation's response has been deemed inadequate, as it established a strategy committee without decision-making authority and merely filled existing board vacancies.

      Central to the dispute is board member Stefan George, who also serves as the Chief Technology Officer of Gnosis, a company that competes with Safe in the wallet product market. Greenfield has raised concerns about potential conflicts of interest stemming from this relationship, particularly following allegations that George and Gnosis co-founder Martin Köppelmann pressured Safe's co-founders to reallocate a significant amount of SAFE tokens after a security incident in February 2025. These allegations have not been substantiated by any regulatory authority.

      Since its inception in 2022, the Safe Ecosystem Foundation has been responsible for overseeing governance and treasury functions for SafeDAO. Greenfield Capital, which participated in Safe's financing round in 2022, has maintained its investment without selling any SAFE tokens. The firm has emphasized its intention to remain a constructive participant in the ecosystem rather than pursuing legal action or attempting to take control of the foundation.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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