Ava Labs, a group developing the most well-known Avalanche Network, is attacking Solana & cons SEC in an evil conspiracy with a bought law firm!? Is what Roche Freedman claimed in the video correct!? Let’s find out how this will turn out in today’s article!
Who Are Ava Labs, Crypto Leaks, and Roche Freedman?
Before we discuss how this allegation came to be, we must first go through each individual to have more context.
About Ava Labs – Avalanche
First off, let’s learn about the most-talked organization in this event, Ava Labs.
Ava Labs is an American for-profit company that develops and promotes the Avalanche blockchain, It is led by CEO and founder, Emin Gün Sirer, and claims to employ more than 150 people. Ava Labs organized many huge events like Avax Rush, Avax Hackathon, Avax Summit which have attracted a large community as well as many followers and supporters.
Avalanche is being developed by Ava Labs, a blockchain startup founded in Brooklyn, New York in 2018 by Professor Emin Gün Sirer (CEO) – who does computer science research at Cornell University, Kevin Sekniqi (COO), and Ted Yin (Chief Protocol Architect). The Avalanche network currently has a fully diluted market capitalization of more than $16.5 billion USD.
Recently Ava Labs raised substantial funding in collaboration with Three Arrows Capital, their hedge fund failed as they have been accused of acting like a Ponzi scheme, paying AVAX tokens and equities to law firm Roche Freedman, by Crypto Leaks.
About Crypto Leaks
The website CryptoLeaks claims to be a group of “diehard blockchain enthusiasts” that wants to “contribute to the task of nudging our industry towards a brighter, more honest future, by providing information about the Cryptocurrency Market, Blockchain platforms, and related legal issues.
The allegations that Ava Labs paid law firm Roche Freedman to sue competitors (such as Solana Labs) come from their website CryptoLeaks, which previously made allegations against FTX and crypto analyst firm Arkham Intelligence alongside The New York Times.
About Kyle Roche Of Th Law Firm Roche Freedman
Roche Freedman is a law firm that widely sues people in crypto, currently running at least 25 class actions. The report alleges Kyle Roche, founding partner at Miami-based firm Roche Freedman, had more than a normal lawyer-client relationship with Ava Labs.
Based on supposed hidden camera footage of an interview with Ava Labs’ lead attorney Kyle Roche, Crypto Leaks claimed the company and firm have worked in tandem to turn the U.S. legal system against competitors.
What Is This Allegation About?
“Crypto Leaks” alleges that Ava Labs paid law firm Roche Freedman to sue competitors (such as Solana Labs).
Up till now, they have made three allegations, with the first two focused on Internet Computer ($ICP), which did not gain much attention.
While The third allegation which has recently been posted on Twitter involves the smart contracts platform Avalanche ($AVAX) is the biggest claim they have ever made.
The following outrageous claims were made against the Ava Labs CEO, Emin Gün Sirer, and Kyle Roche, Founding Partner at the law firm Roche Freedman LLP. In their post quoted:
In a series of secretly recorded interviewed videos published by Crypto Leaks, the founding partner of Roche Freedman, Kyle Roche, can be heard saying that he and Ava Labs:
- Use the American legal system – gangster style – to attack and harm crypto organizations and projects that might compete with Ava Labs or Avalanche in some way.
- Sue crypto industry actors generally with the aim of creating magnets for regulators such as the SEC and CFTC that distract them from the highly commercial nature of Ava Labs and the Avalanche blockchain.
- Secretly pursue Emin Gün Sirer‘s personal vendettas against individuals.
When they create class actions and other litigation against Ava Labs competitors and crypto industry participants, Kyle Roche has revealed that Roche Freedman often has two hidden purposes:
- Surreptitiously causing harm to competitors (Solana and Cons SEC).
- Luring regulators, including the SEC and CFTC, away from Ava Labs.
Of course Mr.Emin Gün Sirer denied this information and confirmed that he was not involved in any illegal actions. He also claimed that Crypto Leaks’ argument is nonsense theory.
As for Roche, he alleges these videos were recorded during private meetings with Christen Ager-Hanssen, a Norwegian venture capitalist. He said Ager-Hanssen came to him to talk up an investment in a technology startup, but that he was actually there “to deceive and entrap him, using a deliberate scheme to intoxicate and then exploit him using leading questions. And their work with Ava is “focused on defense side cases typical of any large corporation”.
What makes this even more crazy is that Roche claims Ager-Hanssen was working on behalf of Ava competitor Dominic Williams, the founder of the nonprofit Dfinity Foundation and creator of the ICP token. Obviously, Williams denied, saying they have no data to back it up.
While Ager-Hanssen said he “had no idea” and was introduced to Roche through a London-based business consultant, and that he had gone to Roche to talk about investment in decentralized finance and blockchain tech. The strange part is that the intermediary for the supposed meeting between Ager-Hanssen and Roche has not been identified yet.
For the “rightous” Crypto Leaks’ evidence video, using hidden camera to back up for their claim. They are all divided into short clips that last no longer than 1 minute, and it seem like they are leaving out many contexts on purpose by removing their questioning part, then leave only parts where Roche answered, which can make many people easily be misinterpreted. Not only that, Ager-Hanssen said that he wanted to meet Roche to talk about “investment in decentralized finance and blockchain tech”, but laws and relationship between Roche and Ava Labs involved in their conversation.
Many people suspected that this was a meeting for with manipulating motive, that is to make short clips out of context and provide wrong information:
For the first days since Aug. 26, these short out-of-context clips damaged the Avalanche ecosystem. Aside from receving backlash from some of their follower, many projects stop their support for avalanche. Only for a short amount of time, $AVAX drop down to 11%
Recently, the GameFi Trident project posted an update last Sunday that they decided to cancel the planned launch on Avalanche Network.
Only to rebound back to 15% as retaliate from serious allegations, AVAX’s price established an intraday high of $19.75 on Aug. 30, two days after bottoming out locally at $17.50, amounting to a 15% rise. Some said they can rise much more, up to 55% to prove Avalanche still have strong supporters.
Remeber To Do Your Own Research
For both parties, there has yet to be any conclusive evidence as both side only has claims, or unclear data. The crypto space is still a new area. It is neccesary for us to do careful research before coming to conclusion either this conspiracy is true or not. And what should you do after that.
All information here is for reference only, not investment advice. Hopefully, the information that Avaxholic has gathered in the article will be useful to you.
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