Greenfield Capital files Safe governance complaint
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- Greenfield Capital filed a supervisory complaint against the Safe Ecosystem Foundation in Switzerland.
- Greenfield cited governance concerns alongside falling assets and weaker market share.
- The investor wants independent board oversight and changes to Safe’s governance structure.
Greenfield Capital filed a supervisory complaint against the Safe Ecosystem Foundation with Switzerland’s Federal Supervisory Authority for Foundations.
Greenfield said Safe (SAFE)’s assets fell from $66 billion to about $30 billion between January 2024 and August 2026.
“We are now requesting the supervisor to form its own view,” Greenfield Capital founding partner Jascha Samadi said in the letter.
Greenfield said DeFi TVL grew 40% while stablecoin supply increased 135% during the same period.
The investor wants independent board members and a review of strategy, products, organisation and token economics.
Greenfield said Safe’s stablecoin holdings grew 11%, while stablecoin supply across the market increased about 135%.
Following the update, SAFE was trading up 8.6% at $0.1199.
