Kled founder accuses Believe founder of continuously selling off KLED tokens

PANews December 17 News, Avi Patel, founder of the Solana ecosystem AI project Kled, posted on the X platform accusing Believe founder Ben Pasternak of continuously selling KLED tokens on the market. Patel stated: “For a full 7 days, Pasternak has been using a DCA strategy to continuously sell millions of KLED tokens, coinciding with the release of our largest application update to date and during a bear market low in trading volume. According to the fee agreement, Pasternak held over 6% of the KLED token supply, and this portion of tokens had been accumulating until our exit from Believe in July. He explicitly promised afterward that he would never sell KLED on the open market; if liquidity was needed, he would opt for OTC trading or token burning.” Patel pointed out that on September 25, the day the project’s mobile app was launched, Pasternak’s public wallet address showed a significant sell-off. He explained that the tokens had been transferred off-chain to an undisclosed third party, but that third party immediately sold over 1% of the total supply on the market. The Kled project team was subsequently forced to acquire some of the holdings OTC at an estimated valuation of about $27 million, reducing its share to approximately 3.5%. About a week ago, Pasternak resumed selling tokens on the market, prompting the Kled team to organize another OTC buyback, reducing his holdings to about 1.7%. It is claimed that Pasternak currently still holds approximately 2 to 3 million tokens and continues to sell. Patel stated that the matter is nearing its end and condemned this behavior.