Emin Gün Sirer, founder and CEO of Ava Labs, the company behind Avalanche (AVAX), shared his view on an exciting report recently published by CryptoLeaks. Sirer wrote on Twitter today that the allegations of conspiracy against competitors and the allegations made by Cryptolix are “ridiculous”, calling them a “conspiracy theory.”
In fact, COO and co-founder Kevin Schickenke also responded to the report, Twitter The allegations against Ava Labs are “stupid and false.”
How can anyone believe something as absurd as the Cryptoleaks conspiracy theory? We will never engage in the illegal, unethical and simply wrong behavior alleged in our self-serving videos and inflammatory article. Our technology and team speak for themselves.
– Emin Gün Sirer🔺 (@el33th4xor) August 28, 2022
The response comes three days after CryptoLeaks posted one a report Which shows a series of videos featuring Kyle Roach, founder of Roche Friedman LLP. The videos contain shocking allegations from Roche and reveal how Roche Freedman and Ava Labs entered into a “confidential agreement”.
Under the alleged agreement, Roche and its partners acquired a stake in Ava Labs and AVAX, in exchange for engaging Ava Labs competitors in lawsuits disrupting their business and favoring Ava Labs.
Litigation for profit
In these videos, Roche allegedly goes on to explain how he uses litigation as a tool, an “underutilized” tool. According to the report, Roche has filed a class action lawsuit against Ava Lab competitors, giving it permanent access to sensitive documents that must be shared with the plaintiff as part of the Discover.
Roche can be heard saying in the video,
“I’m suing half of the companies in this space, I know where this market is headed, and I think I’m in the top ten in the world…I’ve seen what’s inside every crypto company.”
This benefits Ava Labs in two ways. The first, by damaging the reputation of competitors, which likely means an increase in prices on AVAX listings. The smallest movements can bring huge profit to those with huge supplies like. Roche directors and Ava Labs executives.
The second, by diverting the attention of market watchers to competing firms. The lawsuit alleging regulatory violations will attract regulators such as the CFTC and SEC, effectively pulling them away from Ava Labs.
This technology can also be used to target companies that may not be an obvious competitor, because the more time regulators spend doing business with other companies, the less time they have for other companies like Ava Labs.
In the video, Kyle Roach claimed that his company is behind the class action lawsuit against Ava Labs competitor Solana Labs and the Dfinity Foundation. The lawsuits appear to have been “on behalf of Ava Labs.”
Roche’s personal share
Kyle Roach was seen bragging about how he got a “score” in Ava Labs stock and AVAX offerings. In finance, points are converted into a percentage of equity. So, according to the video, Roche owns one percent of Ava Lab’s stock and AVAX supplies together.
Roach also seemed to be hinting that his interest would become a third of what Kevin Seungki had.
Harmful legal campaigns
In a now-deleted tweet, Binance CEO Changpeng Zhao described the entire deal as wild, adding, “Of course Binance was a target.”
Earlier in July, Solana Labs was a prominent topic Experience Brought to you by Roche Freedman LLP. The lawsuit alleged that by selling Solana, an “unregistered security,” Solana Labs violated US federal securities laws. The lawsuit is also named after the Solana Foundation and co-founder Anatoly Yakovenko.
Interestingly enough, Amin had a Gon Serer before It has been described Roche Friedman as an “absolutely first-rate” law firm. This follows a lawsuit against Tether and Bitfinex, among others, for alleged manipulation of the crypto market.
In April of this year, Ava Labs is over A financing round raised $350 million with a valuation of $5.25 billion.