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With the story making headlines and raising attention from prominent individuals, Ava Labs CEO has denied the allegations. Sirer claimed that he and the company would never involve themselves with such behavior.
The allegations against Ava Labs are steaming hot, and CEO Emin Güo Sirer maintains that all reports are not true. As a core developer of the Avalanche blockchain, Ava should not be caught up in the web of “evil conspiracy,” as CryptoLeaks stated. According to the allegations, Ava had a secret pact with Lawyer Kyle Roche, a founding partner at Roche Freedman. Ava allegedly granted 1% of the supply of Avax tokens and a similar amount of equity to the lawyer for him to attack competitors.
The report noted that the pact was for Kyle to bring lawsuits against the competitors in a “gangster style.” The evidence corroborating the allegations shows recorded videos from an unidentified source with Kyle discussing his close relationship with Ava Labs CEO. The lawyer mentioned agreeing to provide legal services for the company in exchange for the token supply.
Ava Labs CEO Responds to Allegations
With the story making headlines and raising attention from prominent individuals, Ava Labs CEO has denied the allegations. Sirer claimed that he and the company would never involve themselves with such behavior. He referred to the accusations as “conspiracy theory nonsense.”
“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.”
Meanwhile, Ava Labs CEO praised Roche Freedman in a Tweet in 2019. Kyle had announced a file action lawsuit against Tether, Bitfinex and others for crypto market manipulation. Sirer quoted the tweet, referring to the law firm’s decision as a “monumental lawsuit against Tether-based manipulation of cryptocurrency prices.” The CEO went on to commend the law firm as “top notch,” “crypto savvy,” and has a track record of addressing complex concepts in the court of law.
In July 2022, Roche Freedman also charged Solana with the alleged sale and promotion of unregistered securities. According to CryptoLeaks, the law firm has filed 25 class actions so far. The class actions include suing Binance for exchanging illegally sold UST to investors, which caused hefty losses to them.
Furthermore, Kyle, the lawyer in question, has also responded to the allegations. Stating the fact that CryptoLeaks is an anonymous website, he said the accusations are “unsourced false statements.” The attorney said the videos are edited and lack accurate context. He explained that the videos were of him during a discussion with Christen Ager-Hanssen. Kyle said Hanssen requested the private meeting under the guise of venture capital investment in a tech startup. He mentioned that Ager-Hanssen works for the creator of the ICP token, Dominic Williams. Notably, the ICP token creator is a defendant in high-profile fraud litigation by Roche Freedman.