The investigation made public by Crypto Leaks includes several videos showing U.S. Attorney Kyle Roche of Roche Freedman confirming that his firm litigates against other crypto companies as a "strategic instrument" to "support Ava Labs." In exchange for their legal services, Roche Freedman was granted massive amounts of AVAX tokens and Ava Labs corp's stock.
In a video, Kyle Roche claims he was the first person to receive the company’s stock after Andreessen Horowitz, a VC firm that provided initial founding to Ava Labs. Roche said that he has a third of what Kevin Sekniqi, Ava Labs co-founder and current COO, has.
As the conversation progresses, Roche confesses that he harvests confidential information about Ava Labs' competitors through a special legal process known as "discovery," which grants access to the companies' commercial data, email, and social media communications.
"I sue half the companies in this space, I know where this market is going, I believe [I am] one of the top 10 [crypto experts] in this world… I’ve seen the insides of every single crypto company," Roche bragged to his interviewer.
Ava Labs founder and CEO Emin Gün Sirer denied all allegations from Crypto Leaks' article, describing them as "conspiracy theory nonsense." Nevertheless, the piece published by Crypto Leaks seems to have hurt the price of the AVAX token, which is down 9% in the past 24-hour period, currently trading at around $18.
According to Roche Freedman's website, the company currently employs at least 24 attorneys and has offices in New York, Miami, and Boston. The law firm currently runs at least 25 class actions, including against Binance, Solana Labs, and the Dfinity Foundation.
"This is wild. Not sure if this is true, but assuming the videos are not deep fake… And of course, Binance was a target. We are not even a competitor," Binance CEO Changpeng "CZ" Zhao reacted to the publication in a tweet that now seems to be deleted.
"The many crypto industry participants who have been litigated against by Kyle Roche must now question exactly how much of their confidential data is now in the possession of Ava Labs executives," the Crypto Leaks article concludes.