Emin Gün Sirer, CEO of Ava Labs, dismissed the report as ” nonsense conspiracy theory ” y Garlinghouse también negó las acusaciones. AVAX cayó más de 20% en medio del escándalo.
- ‘ Crypto Leaks published a scandalous report accusing Ava Labs.
- It alleges that Ava Labs paid to create a bad image for other cryptocurrencies.
- Ripple’s Garlinghouse was also defamed.
- They would have acted separately to attack crypto rivals.
- Those involved denied the allegations and AVAX dropped in price.
Avalanche yRipple are embroiled in a new controversy after the publication of a sensationalist report claiming that both led efforts to harm competitors in the cryptocurrency industry.
A self-proclaimed “ informant “published on Friday the article in question on the website ‘Crypto Leaks‘, que asegura enfocarse en noticias relacionadas con corrupción y fraude en el ecosistema de criptomonedas. El CEO de RippleBrad Garlinghouse, and the representative for Avalanche Emin Gün Sirer, have dismissed the accusations as a conspiracy.
Accusations against Ava Labs
The publication, which contains a series of short a trading technique in which a trader borrows an asset in order to sell it, with the expectation that the price will continue to decline. In the event that the price does decline, the short seller will then buy the asset at this lower price in order to return it to the lender of the asset, making the difference in profit. video clips whose source is unknown, accused Ava Labs the development company behind Avalanche of pay the law firm Roche Freedman so that organize litigation and classes of action against some rival organizations of digital digital technologies are these electronic tools that have the ability to generate, store or even process data. currencies.
Según el informe, que fue recogido por varios news media , Ava Labs would have made a deal with lawyers to collect information from rivals and attack them in exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. for massive amounts of AVAX tokens and corporate shares of the firm. The videos show the law firm’s founding partner, Kyle Roche, claiming payments to attack competitors likeDfinity y Solana .
We can reveal that the pact directs Roche Freedman and his leader, Kyle Roche, to use the US legal system, gangster-style, to attack and damage crypto organizations and projects that might compete with Ava Labs or Avalanche in some way…
The agreement “ secret “, which would have been established in late 2019, also aimed to create negative images of cryptocurrencies to attract the gaze of U.S. regulators and divert attention from Ava Labs according to the informant.
The videos also suggest that there was a very close refers to the closing price; similar to the same term used in stock trading. relationship between Roche and Sirer, the CEO of Ava Labs who started out in academia, and that the two had moved into a co-working space together when the deal closed. Roche was shown in one of the videos saying that he has made sure to ensure that he “ there is no regulation ” for Ava Labs .
Garlinghouse deRipple is also defamed
The smears also fell on Brad Garlinghouse, fromRipple. The report made similar accusations of the CEO claiming that he had financed a law firm different lawyers to target competitor companies, as it collects Cointelegraph .
According to the publication, Roche is said to have approached Garlinghouse to invest investing is when you put money in a financial scheme with the intent of making a gain. in a law firm that would focus on competing cryptocurrency companies with lawsuits quite similar to the ones he faced Ripple at the time. Roche stated that Garlinhouse agreed to his proposal.
“ Por las razones que sean, Brad Garlinghouse invirtió en Kyle Roche y lo apoyó en su actual camino, [aunque] ciertamente no lo salvó de la SEC “, it reads. The report states that the founder of Roche Freedman previously worked with Boies Schiller Flexner a firm that represented Ripple in its lawsuit against the U.S. Securities and Exchange Commission (SEC).
“ A nonsensical conspiracy theory “
Both parties involved went to Twitter to deny the outrageous accusations ofCrypto Leaks. In a release on Sunday, Sirer dismissed the article as a “conspiracy theory nonsense” and assured that Ava Labs “would never engage in illegal, unethical, and just plain wrong behavior.”
How could anyone believe something so ridiculous as the conspiracy theory nonsense on Cryptoleaks? We would never engage in the unlawful, unethical and just plain wrong behavior claimed in these self-serving videos and inflammatory article. Our tech & team speak for themselves.
– Emin Gün Sirer???? (@el33th4xor) August 28, 2022
The CEO ofRipple también respondió al artículo, negando una supuesta relación con Roche. “ I can’t comment on the validity of the myriad of accusations here, but I can say unequivocally that I have never met or spoken to (much less invested in) Kyle Roche. “, he wrote Garlinghouse in one tweet published on Sunday.
Can’t comment on the validity of the slew of allegations in here, but I can unequivocally say that I have never met or spoken to (much less invested in) Kyle Roche. https://t.co/s5Qu91AV2Z pic.twitter.com/DjLZ0eSdbe
— Brad Garlinghouse (@bgarlinghouse) August 29, 2022
Other prominent figures in the crypto space also spoke out about the allegations. In a tweet now deleted, which was quoted by CoinDesk the CEO of Binance Changpeng Zhao, Changpeng Zhao, described the report as “an excellent report”. wild “and hinted that the centralized a centralized organizational structure is one in which a single node or a small number of them are in control of an entire network. exchange had also been targeted despite not being a direct competitor of Avalanche .
It should be noted that Roche Freedman is a law firm known for its various deals in the cryptocurrency space, as noted by Crypto Briefing . He recently sued Binance.US for the collapse of Earth and filed a lawsuit against Solana Labs developers of Solana claiming that the native SOL currency currency is a medium of exchange that defines value. was an illegal value.
Blockworks recalls that, in October 2019, Sirer had applauded the law firm’s efforts to class-action lawsuit againstTether y Bitfinex for alleged market an area or arena, online or offline, in which commercial dealings are conducted. manipulation. “ The law firm behind this lawsuit is absolutely top notch. “, wrote Sirer at the time, describing them as “ cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. experts “.
AVAX dropped in price amid scandal
In the meantime, the native cryptocurrency of Avalanche seems to be affected by the turmoil. AVAX plunged a little more than 20% over the weekend, dropping from $23 on Friday to below $18 in Sunday trading, according to data from CryptoMarkets .
By the time of editing, AVAX is trading slightly higher above USD $19, up 4.7% in the last 24 hours. Monday’s rise comes amid a broader movement of rising prices in the digital asset market.
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Article by Hannah Estefania Perez / DiarioBitcoin
Imagen de Unsplash published in Canva