Every day, new surprises in the crypto universe. As the price of bitcoin (BTC) once again dips below $20,000, crypto companies are in the news. This time the cryptosphere is rocked by a Cryptoleaks report that all but tears down the integrity of Ava Labs.
Emin Gün Sirer, CEO of Ava Labs denies all allegations made against the company
Competition within the crypto industry is fierce and exchanges are constantly looking for ways to grow. If so far everything has been done calmly, it seems that Ava Labs has found a way to climb the stairs in a not very honest way.
According to a Cryptoleaks report, the crypto company employs lawyers to tarnish the image of its competitors and distract regulators. Indeed, Ava Labs and the law firm Roche Freedman entered into a secret agreement aimed at harming the crypto industry. To do so, the firm needed to sue the company’s potential competitors in exchange for AVAX tokens worth hundreds of millions of dollars and Ava Labs stock.
Kyle Roche explains the nature of their affairs in a series of video recordings and the allegations are startling. He explains that they have been working together for years. And as part of this collaboration, the law firm collected confidential information on other exchanges.
However, Ava Labs CEO Emin Gün Sirer refuted all of these claims in a post on Twitter. The latter declared that he does not understand that people can believe in such nonsense and that he would never engage in illegal activities.
A case that interests many personalities
In his accusatory remarks, Kyle Roche listed some of the platforms he took on. Among others, Binance, Dfinity Foundation and Solana Labs. The latter did not hide anything and exposed everything about the plan which aimed to undermine the integrity of other trading platforms.
If these accusations surprised many investors, the personalities concerned were quick to give their opinion. Indeed, Changpeng Zhao, the CEO of Binance, said that of course his exchange was a target. However, he is unsure of the veracity of these claims. Ari Paul, the founder of BlockTower also spoke in a tweet. According to him, this corresponds to what he has already seen from the CEO of Ava Labs and Roche.
Although Ava Labs attorneys said Kyle Roche’s statements were untrue, Ari Paul called the report directional accurate. He also noted that he assumed the latter was accurate. However, if there was any evidence that showed it was false, he would make a point of bringing it to light. If the personalities remain skeptical, the fact remains that the Cryptoleaks article has downright sink the course of Avalanche. The latter has fallen by more than 11% in the past 24 hours.
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