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Project Overview
Believe is a mobile SocialFi application that allows users to issue personal tokens and transform social media influence into tradable assets. Its innovation combines FriendTech's social capitalization logic and Pump.fun's low-threshold coin issuance mechanism, attracting Web2 users by simplifying the process and providing a fiat currency entry.
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ElevenLabs and Stability AI Release New AI Music Models
Odaily Odaily News: Voice AI company ElevenLabs, founded in Poland, has released Music v2. This model can switch genres within the same track, generate songs by sections such as intro, verse, and chorus, and supports local redrawing of specified segments. Music v2 is now available on ElevenMusic and ElevenCreative, with early access to the ElevenAPI currently provided through the sales team. Stability AI has launched Stable Audio 3.0, which includes four models: Small SFX, Small, Medium, and Large. Three of these variants have open weights on Hugging Face. The series is trained on licensed data. The Medium model supports generating tracks up to 6 minutes and 20 seconds long, while the Large model is only available via the Stability AI API. ElevenLabs has signed licensing agreements with Believe, Kobalt, and Merlin. Stability AI has established partnerships with Warner Music Group and Universal Music Group. In November 2025, Suno was valued at $2.45 billion, with an annual recurring revenue exceeding $300 million, approximately 100 million users, and generating an average of about 7 million songs daily.
Believe founder accused of siphoning $54 million in fees through Launchcoin migration
Odaily Odaily News A class action lawsuit alleges that Believe founder Ben Pasternak extracted $54 million in fees through the Launchcoin migration. The lawsuit claims the migration process had a two-week window, which led to token dilution for holders and the permanent destruction of tokens with staggered deadlines. Additionally, the related operations are alleged to involve wallets associated with insiders.
Believe Founder Benjamin Pasternak Arrested on Charges of Second-Degree Strangulation and Intentional Injury
Public records from the New York Criminal Court show that Benjamin Pasternak, founder of Believe App, was arrested on charges of second-degree strangulation and assault. This follows allegations that Believe founder Ben Pasternak was involved in a multimillion-dollar rug pull scam.
Believe Founder Arrested, Faces Second-Degree Strangulation and Assault Charges
Odaily News According to public records from the New York Criminal Court, Believe founder Benjamin Pasternak was arrested on suspicion of second-degree strangulation and assault, with a court appearance scheduled for June 11. He was previously accused of involvement in a token exit scam scheme involving millions of dollars. The platform's native token BELIEVE is currently trading at approximately $0.00075, down over 99% from its all-time high of $0.3569 set in May 2025.
Believe Founder Faces Charges in New York Court for Alleged Involvement in Crypto Rug Pull Scam
According to SolanaFloor, citing the Australian Financial Review, Pasternak, founder of Solana ecosystem application Believe, has been charged in a New York court for allegedly participating in a cryptocurrency rug pull scam. The incident involves the Solana blockchain ecosystem and is suspected to be linked to losses amounting to several million dollars. As the head of the Believe project, Pasternak is accused of using the project to carry out fraudulent activities, causing significant financial losses to investors. The case is currently under adjudication, and related details have not yet been fully disclosed.