Kled AI founder Avi Patel accuses Believe founder of continuously dumping KLED shares.
TL;DR
Kled AI founder Avi Patel accuses Believe founder Ben Pasternak of repeatedly breaking promises by dumping KLED shares, including during key app updates, reducing his stake from over 6% to around 1.7%-2%.
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According to Foresight News , Kled AI founder Avi Patel tweeted a detailed account of his dispute with Believe founder Ben Pasternak: Pasternak originally held over 6% of the KLED supply and had promised not to sell it on the open market. However, during Kled AI app updates, Pasternak dumped millions of KLEDs, including over 1% of the supply on September 25th, the day of the mobile app launch, through an "OTC third party" (buyer undisclosed), citing "taxes" as the reason.
Avi Patel stated that the team coordinated with OTC multiple times to salvage the situation. Ben agreed four times but then backed out, ultimately reducing his OTC position (from 6% to approximately 3.5%) at a valuation of approximately $27 million. A week ago, Ben again sold off his holdings, reducing his position to approximately 1.7%-2%. He currently holds 2-3 million tokens and is still selling.