Plaintiffs allege founder Ben Pasternak and affiliated entities generated roughly $54 million in fees across Believe platform tokens following multiple token launches and an October 2025 migration from LAUNCHCOIN to BELIEVE that increased supply from 1.0B to ~1.33B (~33.3% dilution) and used a two‑week conversion window that burned unconverted tokens. The complaint cites nearly $6 billion in platform trading volume, alleges insider allocations with immediate unlocks of foundation tokens, and claims Pasternak failed to honor at least 12 public buyback commitments while continuing to collect fees. Plaintiffs seek freezes on on‑chain assets and recovery of alleged unlawful revenues. Separately, New York court records show Pasternak was arrested April 22 on assault charges (he pleaded not guilty; next court date June 11).

Allegations are concrete: roughly $54M in fees collected, a token migration that increased supply by ~33.3% and burned unconverted tokens, cited ~$6B platform trading volume, alleged insider allocations and immediate unlocks, and at least 12 unfulfilled buyback commitments; plaintiffs seek asset freezes and recovery — facts likely to materially affect holder confidence and short‑term market behavior.