SafeMoon to launch memecoin on Solana after SFM burn

SafeMoon will launch a new memecoin on Solana at 1:00 a.m. UTC Saturday, following the burn of 2.2 trillion SFM tokens. SFM holders can swap their tokens for the new memecoin via the VGX wallet, aiming to restore liquidity and recover funds. SafeMoon, now owned by the VGX Foundation, declared bankruptcy in 2023 after its previous leadership faced fraud charges, CoinDesk has reported.