In the context of the whole market is still facing a lot of difficulties after the macro news last weekend, the platform market leading Avalanche () recently encountered another "shock" that strongly affected the project's reputation.

Avalanche reveals evidence of "bad play" on many other platforms, including Binance - Strong AVAX dump price
reveal evidence of "bad play" on many other platforms, including - Price strong dump

AVAX's legal attack "conspiracy"

On August 29, the Twitter community was extremely excited to spread information about an article by Leaks uncovering the truth about the platform's underground activities .

Accordingly, Ava Labs, the development company behind Avalanche, has colluded with Roche Freedman, a well-known law firm specializing in litigation in the industry. , led by founder Kyle Roche to "play evil" behind many other competitors such as (), Internet Computer (ICP) or even an 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.

Kyle Roche even 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:

  • Harming AVAX's competitors, thereby helping the platform become "cleaner" and more reputable with the community.
  • Attracts regulators, including the US Securities and Exchange Commission () and the Commodity Futures Trading Commission (), away from Ava Labs and focus their attention more on the platforms being sued.
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All proofs are fine Crypto Leaks presented not only with written arguments but also through specific videos of the conversation between the two sides. On the other hand, in terms of past events, the was sued for being an unregistered security or Binance.US was caught in a lawsuit alleging misleading investors about are all by Roche Freedman, so authenticity by data comes from Crypto Leaks the possibility is very high.

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 projects others and always show a desire for their ecosystem to grow.

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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 and is defending a lawsuit involving securities as alleged by the SEC.

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According to Kyle, he once suggested to the CEO Brad Garlinghouse that he will start a new law firm (Roche Freedman), specializing in suing other crypto firms, using exactly the same “tactics” as Ava Labs now supports. . So, Kyle suggested Brad Garlinghouse become an angel investor, and surprisingly he agreed.

It's not clear why the Ripple CEO invested in Kyle Roche and backed 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.

However, Mr. Emin Gün Sirer denied this information immediately after confirming that he was not involved in any illegal actions, and stated his thesis. Crypto Leaks is baseless.

Still, that doesn't seem to be enough to "save" the AVAX price, which is now down more than 8% in the last 24 hours and is trading around $18.37 at press time.

1H AVAX/USDT price chart. Source: Binance
Price chart 1H AVAX/. Source: Binance

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