Ben Pasternak, the founder of memecoin launchpad Believe, is facing public accusations from Kled CEO Avi Pastel over alleged unauthorized token sales that Kled says hurt its market. What happened - Kled is a data firm that pays users for labeled data—photos, essays and similar submissions—which it then licenses to AI companies to improve datasets and train models. - According to Pastel, Pasternak agreed not to dump his KLED tokens on the open market and instead promised to use over‑the‑counter (OTC) sales or token burns if liquidity was required. - Pastel says that one day after Kled launched its mobile app on Sept. 24, Pasternak transferred the bulk of his tokens via OTC to an unnamed third party, and that third party began selling those tokens on the market. - Pastel posted on X that over a roughly seven‑day period Pasternak was “market selling millions of $KLED tokens via DCA” (dollar‑cost averaging). Pasternak reportedly blamed the sales on “taxes,” but did not clarify the explanation or identify the third party. - Pastel alleges Pasternak breached OTC pricing agreements multiple times and misrepresented when he would sell. Kled and its backers say they stepped in with OTC buys to stem the selling: they reduced Pasternak’s stake from about 6% to 3.5%, and later to roughly 1.7%, though Pastel says Pasternak continued to sell afterward. - Pastel described the behavior as unacceptable and warned builders against working with Pasternak. Status and background - Pasternak has not publicly responded to Pastel’s allegations and has been inactive on X since Oct. 20. He had recently announced an AI startup on LinkedIn, but reports say those posts were later removed. - Believe operated as a launchpad where users could create tokens by tagging the app’s LaunchCoin account; Pasternak received a share of allocations under those terms. Kled separated from Believe in July and now retains all fees. Why it matters - The dispute highlights recurring tensions in token projects between early allocations, founder selling, and market stability—especially in memecoin and AI‑adjacent crypto projects where tokenomics and incentives are closely watched by traders and users. - OTC sales and token burns are common liquidity strategies, but when early stakeholders sell into public markets unexpectedly, projects can face rapid price declines and reputational damage. The situation appears to be unfolding publicly on social channels; Kled’s CEO has laid out the allegations on X while Pasternak has yet to offer a public rebuttal. Read more AI-generated news on: undefined/news

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