The Avalanche cryptocurrency (AVAX) recently flipped Polygon to become the 14th largest cryptocurrency in the world by market value hitting a $6.6 billion market cap which followed a 24-hour surge in price.
But this has been short-lived with claims of Avalanche paying a secret law firm to sue its competitors using their ‘supposed’ expertise obtained from confidential legal information.
The information leaked claims that Avalanche’s CEO, Emin Gün Sirer, hires Roche Freedman to pursue a hidden purpose in exchange for Ava Labs stock and Avalanche cryptocurrency (AVAX).
Roche Freedman is a law firm, led by Kyle Roche, that widely sues people in crypto, and they currently run 25 class actions, including against Binance, and Solana Labs (Ava Labs competitors) among others.
Videos included in the leak, show a series of conversations with Kyle, where he explains that he’s shared working space with Ava Labs, was there at their earliest stage, was the first person on their cap table, and has a big stake in Ava Labs.
According to Kyle, his stake is in both token and equity. Kyle says he’s got a third of what Kevin’s got. Kevin is the co-founder and current COO of Ava Labs.
What Kyle does is sue every potential crypto company that serves as a competitive threat to Ava Labs. When he does this, he has access to demand confidential accounts, commercial data, email and social media communications using a special legal process known as a ‘discovery’.
He collects this information which labels him among the top 10 experts in the crypto world. This information is then provided to Ava Labs to use as a powerful competitive tool.
Various sentiments have been shared on the topic on Crypto Twitter. But Emin has shared a response tweet that, so far, has not disclaimed any story:
This story is a lot to take in at the moment and various stakeholders in the crypto space are involved. I daresay it’s going to be an interesting week in the crypto space.
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