Headline: Believe founder Ben Pasternak accused of unauthorized $KLED sales after Kled app launch, CEO says Ben Pasternak, founder of memecoin launchpad Believe, has been publicly accused by Kled CEO Avi Pastel of selling large amounts of Kled’s token ($KLED) in ways that violated an agreed plan — allegations that, if true, triggered rapid damage-control buys by Kled supporters and raised fresh questions about token-holder behavior at launch. What Kled says happened - Kled is an AI-data company that pays users to label personal data (photos, essays, etc.) and then supplies that data to AI firms for dataset improvement and model training. Its token, $KLED, plays a role in the project’s ecosystem. - According to CEO Avi Pastel, Pasternak had agreed not to dump tokens on the open market and to use over-the-counter (OTC) sales or burning to address liquidity needs. - Pastel says one day after Kled released its mobile app on Sept. 24, Pasternak transferred the bulk of his holdings via OTC to an undisclosed third party — who then began selling into the market. Pastel wrote on X that the team “was forced into damage control” and scrambled to arrange OTC purchases to limit market harm. - Pastel alleges multiple breaches of OTC pricing agreements and misrepresentations about sale timing. Kled’s backers bought down Pasternak’s position repeatedly: from roughly 6% of supply to about 3.5%, then to roughly 1.7%, though Pastel claims Pasternak resumed selling after each intervention. - Pasternak reportedly attributed at least some sales to “taxes,” but Pastel says that explanation remains unclear and that Pasternak has not identified the third party that received his tokens. Context and background - Believe is a memecoin launchpad that enabled users to create tokens by tagging the app’s LaunchCoin account; under those terms Pasternak received portions of token allocations created on the platform. Kled separated from Believe in July and now retains all fees tied to its token. - Pastel’s accusations were published in a long post on X titled “A Message Regarding Ben Pasternak.” He characterized the conduct as unacceptable and urged builders not to work with Pasternak. - Pasternak has not publicly responded to the allegations on X and has been inactive on the platform since Oct. 20. He had announced a new AI startup on LinkedIn last month, but has reportedly removed posts from that account. What this means - If the CEO’s account is accurate, the episode highlights how concentrated token holdings and off-market transfers can quickly destabilize newly launched projects and force coordinated buys to protect price and community confidence. - The dispute also spotlights ongoing tensions between launchpads, token founders, and projects as they negotiate token allocation, vesting, and selling practices during and after launches. We’ll update as more statements or on-chain evidence emerge from Pasternak, Kled, or third parties involved. Read more AI-generated news on: undefined/news

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