Avalanche Plays Bad On Industry Competitors
On August 29, the Twitter community was extremely excited to spread information about an article by Crypto Leaks that revealed the truth about the underground operation of the Avalanche platform.
Note: The content of the article is taken mostly from the arguments and evidence given by Crypto Leaks.
Ava Labs, the development company behind Avalanche, has colluded with Roche Freedman, a well-known law firm specializing in litigation in the crypto industry, led by founder Kyle Roche, to corrupt the latter. behind many other competitors such as Solana (SOL), Internet Computer (ICP), and Binance exchange.
Since August 2019, the law firm Roche Freedman has been working with Ava Labs. In exchange for Roche Freedman providing comprehensive legal services and some terms to Avalanche, Ava Labs agreed to grant Roche Freedman a large amount of AVAX and a stake in the company.
Mr. Kyle Roche also said he was the first person to receive shares of Ava Labs after Andreessen Horowitz (a16z), the investment fund that provided the initial capital for AVAX.
Next, Kyle Roche confirmed that the “secret compromise” with Ava Labs is that his company will bring lawsuits against various platforms in the crypto space to support AVAX, with the aim of harming a competitor. competition of AVAX, thereby helping the platform to be more “prestigious” with the community.
In addition, Kyle Roche helped Ava Labs attract regulators, including the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), to focus their attention on platforms that are being more sued, “stay away” from Ava Labs.
On the other hand, in terms of past events, whether Solana was sued as unregistered security or Binance.US was caught in a round of legal proceedings with allegations of misleading investors about Terra, it is all due to Roche Freedman, so the authenticity of the data coming from Crypto Leaks is very likely.
Binance CEO Changpeng Zhao also expressed his disappointment at AVAX after the news broke:
In order to hide his conspiracy, AVAX founder Emin Gün Sirer regularly supports other blockchain projects and always shows a desire for their ecosystem to grow. The most recent is Solana’s crash:
Kyle Roche further shared that the legal system that Roche Freedman supports for AVAX has very little chance of actually turning AVAX into security despite the platform’s relentless promotion of the token as a potential investment opportunity. Even so, Kyle Roche repeatedly persuaded Emin Gün Sirer not to mention AVAX’s price so as not to fall under the radar of regulators.
Before Kyle Roche founded Roche Freedman and struck a deal with Ava Labs, he was an associate at the law firm Boies Schiller Flexner, which represents Ripple and is defending a lawsuit involving XRP as a security. as alleged by the SEC.
According to Kyle, he once suggested to Ripple CEO Brad Garlinghouse that he set up a new law firm (Roche Freedman) to sue other crypto firms, using exactly the same “tactics” as Ava Labs now to support Ripple. So, Kyle suggested Brad Garlinghouse become an angel investor, and surprisingly he agreed.
After the above news, it seems that the community is boycotting AVAX when the token price is plummeting without stopping.
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