Avalanche reveals evidence of “bad play” on many rival projects, including Binance – Strong AVAX dump price
While the entire cryptocurrency market is still struggling after the macro news over the weekend, the market leading blockchain platform Avalanche (AVAX) has recently encountered another “shock” that caused another shock. strongly affect the reputation of the project.
Note: The content of the article is taken mostly from the arguments and evidence given by Crypto Leaks. Crypto Leaks is close to the Internet Computer project (ICP) as both previous investigations have supported this project. The name ICP also appears in the video sneaking Mr. Kyle Roche. Crypto Fox News just wants to provide the most comprehensive information to its readers and will update with the latest developments.
"Conspiracy" to attack AVAX's legal
On August 29, the Twitter community was extremely excited to spread information about an article of Crypto Leaks revealing the truth about the operation. underground of the Avalanche platform.
Accordingly, Ava Labs, the development company behind Avalanche, has colluded with Roche Freedman, a well-known law firm specializing in litigation in the cryptocurrency industry, led by the founder. set up Kyle Roche to "play evil" behind many other competitors such as Solana (SOL), Internet Computer (ICP) or even the Binance exchange.
It all started in August 2019, law firm Roche Freedman worked 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.
Even Mr. Kyle Roche 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 the company he will bring lawsuits against various platforms in the crypto space to support AVAX, with two main purposes as follows: < br/> Harming AVAX's competitors, thereby helping the platform become "clean" and more reputable with the community.
- Attract regulators, including the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), away from Ava Labs and focus their attention into more litigious platforms.
- All evidence is provided by Crypto Leaks not only by written argument but also through specific video of the conversation between the two parties. On the other hand, in terms of past events, whether Solana was sued as an 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.
Even Binance CEO Changpeng Zhao expressed his disappointment at AVAX after this news broke, perhaps partly due to the Binance.US incident just mentioned.
“This is crazy. I'm not sure if that's the case but the videos don't seem to be fake. Unexpectedly, Binance was the target of the attack. We're not even seen as a platform that competes fairly with them."
A series of other "truths" are exposed
In order to hide his conspiracy, AVAX founder Emin Gün Sirer regularly supports other blockchain projects and always shows his desire for the system. Their ecology evolved.
For example, he provided support to Solana users when they were affected by the Slope wallet crash and then offered his best purported technical theories on what could happen . Coincidentally, however, this statement was created just weeks after Roche Freedman filed a lawsuit targeting the Solana ecosystem.
In addition, Mr. Kyle Roche further shared that the legal system that Roche Freedman "wraps" for AVAX has practically little probability of turning AVAX into a security despite the platform constantly promoting the token as an investment opportunity. potential investment. Even so, Kyle Roche repeatedly persuaded Emin Gün Sirer not to mention AVAX's price so as not to catch the eyes 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 related to XRP is a security as alleged by the SEC.
According to Kyle, he once suggested to Ripple CEO Brad Garlinghouse that he would set up a new law firm (Roche Freedman), specializing in suing other crypto firms, using exactly the same “tactics” Ava Labs now to support Ripple. So, Kyle suggested Brad Garlinghouse become an angel investor, and surprisingly he agreed.
It is not clear why the Ripple CEO invested in Kyle Roche and supported Roche Freedman on its current path, although the move is unlikely to save Ripple from the SEC. However, Ripple's past troubles with the regulator combined with its association with Roche Freedman/Ava Labs could bode well for AVAX and its founder Emin Gün Sirer.
Song, Mr. Emin Gün Sirer denied this information immediately after confirming that he was not involved in any illegal actions, and declared that Crypto Leaks' argument was baseless. keep.
“I don't understand how the community can believe such an unfounded conspiracy theory on Cryptoleaks? We will never engage in the illegal, unethical and wrongful practices claimed in these inflammatory videos and articles. AVAX's growth in technology and the success of our team so far is testament to it all."
Even so, that doesn't seem to be enough to "save" the AVAX price, which is down more than 8% in the last 24 hours and is trading around $18.37 at press time.
Compiled by Crypto Fox News
Aug 28, 2022