Kled founder accuses Believe founder of continuously dumping KLED tokens
PANews reported on December 17th that Avi Patel, founder of the Solana ecosystem AI project Kled, posted on the X platform accusing Ben Pasternak, founder of Believe, of continuously dumping KLED tokens on the market. Patel stated, "For the past seven days, Pasternak has been using a DCA strategy to continuously dump millions of KLED tokens, coinciding with our release of our largest application update to date and a period of low market trading volume during a bear market. Initially, according to the fee agreement, Pasternak held more than 6% of the KLED token supply, and this allocation had been accumulating before our exit from Believe in July. He subsequently made a clear promise that he would never sell KLED on the open market and would choose over-the-counter trading or token burning if liquidity was needed."
Patel pointed out that on September 25th, the day the project's mobile application was launched, Pasternak's public wallet address experienced a massive sell-off. He explained that he had transferred tokens to an undisclosed third party, but this third party subsequently sold more than 1% of the total supply on the market. The Kled project team was then forced to acquire part of its holdings through an off-exchange transaction at a valuation of approximately $27 million, reducing its stake to about 3.5%. About a week ago, Pasternak began selling tokens on the market again, forcing the Kled project team to organize another off-exchange acquisition, reducing its stake to about 1.7%. It is claimed that Pasternak currently still holds approximately 2 to 3 million tokens and continues to sell them. Patel stated that this matter is nearing its end and condemned the behavior.
You May Also Like
Japan-Based Bitcoin Treasury Company Metaplanet Completes $1.4 Billion IPO! Will It Buy Bitcoin? Here Are the Details
CME Group to Launch Solana and XRP Futures Options
