The Believe project founded by Ben Pasternak is embroiled in legal disputes, and the U.S. law firm Burwick Law has initiated legal proceedings.

A new legal lawsuit has emerged in the cryptocurrency field. The well-known American law firm Burwick Law recently announced that they have officially initiated legal proceedings against the Believe project and its founder Ben Pasternak, and have set up a registration platform for affected investors to file their cases.

Token Encounters “Waterloo”, Investors’ Rights and Interests Are Damaged

The governance token of the Believe ecosystem has experienced a “shrinking”. According to public data, the project’s token was upgraded and migrated from LAUNCHCOIN to BELIEVE in October this year. However, the post-upgrade performance was disappointing—the market capitalization of BELIEVE tokens dropped from a historical high of $120 million to the current $10.15 million, a decline of over 91%. Liquidity is also concerning, with an average daily trading volume of only $195,400, and very low market participation. This situation has undoubtedly caused serious losses to holders.

Burwick Law Is Not a Newcomer

Burwick Law has extensive experience in legal actions within the crypto industry. The law firm has previously initiated legal actions against well-known projects such as Facebook’s digital currency project LIBRA, social token M3M3, and on-chain gaming platform pump.fun. Targeting Ben Pasternak and Believe this time also demonstrates the firm’s ongoing focus on potential violations in the crypto market.

Investors who believe their rights and interests have been harmed can provide relevant proof materials through Burwick Law’s open registration website to participate in subsequent legal proceedings.