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Ava Labs Built Avalanche Litigation Platform With Kyle Roche

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Ava Labs Built Avalanche Litigation Platform With Kyle Roche

Key points to remember

  • Ava Labs co-developed an Avalanche-based litigation platform with Roche Freedman founding partner Kyle Roche.
  • Ava Labs has been accused of paying Roche to sue competitors and keep regulators at bay.
  • The company’s founder and CEO, Emin Gün Sirer, today released a statement downplaying his close ties to Roche.

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Ava Labs developed an Avalanche litigation platform in conjunction with Roche Freedman founding partner Kyle Roche, according to documents obtained by Crypto briefing.

Ava Labs and Kyle Roche co-built Ryval

A pitch deck seen by Crypto Briefing reveals that Roche had pitched the project, dubbed Ryval, to customers in February 2022, announcing an “Initial Litigation Offering” platform developed in partnership with Ava Labs. Ryval was designed to symbolize lawsuits, allowing investors to buy a stake in the outcome of a case.

According to the bridge, the company has requested a $6 million raise to a $100 million post-money valuation and has established plans to work alongside Ava Labs engineers for an interim period until she can put together a full team. In an email seen by Crypto BriefingRoche shared the game and separately presented Avalanche’s Subnet technology to the investor.

This comes amid a hectic few days for Ava Labs and Roche. August 26, crypto “whistleblower” Crypto Leaks published a long talk alleging Ava Labs paid Freedman Roche an equity stake in his company and Avalanche’s AVAX token allocation to sue competitors and fend off regulators. A series of undercover videos showed Roche bragging about his close ties to Ava Labs and the compensation he received for supporting the company in a legal capacity. “They haven’t been prosecuted yet, and there’s a reason for that,” he says in a clip. “I’m busy making sure the SEC and CFTC have other magnets to look for.”

After the report was released, Roche published A declaration claiming the videos were “highly edited and spliced ​​out of context”. He said the parties filming him engaged in “a deliberate scheme to intoxicate and then exploit [him].” He alleged he was interviewed by Christen Ager-Hanssen, who he claims was paid by Dfinity founder Dominic Williams. Crypto Briefing contacted Ager-Hanssen and he denied the allegations, saying he was unaware of the Crypto Leaks report, Dfinity, or its Internet Computer project until Roche released its statement.

Gün Sirer played down his relationship with Roche

Emin, Founder and CEO of Ava Labs Gün Sirer later published his own official statement denying any improper relationship between the two companies. The outspoken engineer categorically denied that Roche or his company ever acted with the knowledge or at the direction of Ava Labs; he went so far as to refer to Roche as “​​a lawyer in a law firm [Ava Labs] detained at the start of [the] company”, which was[trying] to impress a potential business partner by misrepresenting the nature of his work for Ava Labs.

Gün Sirer’s 500-word statement failed to mention Ryval, instead saying he had been the victim of “personal attacks and fraudulent lies”. Crypto Briefing contacted a representative of Ava Labs to find out why he remained silent about Ryval, but has not yet received a response.

Ryval was first conceptualized in 2020, but its Twitter account says it’s expected to launch in 2022. Alongside Roche itself, its 1,811 followers include Avalanche, Gün Sirer and COO of Roche. ‘Ava Labs, Kevin Sekniqi.

An anonymous source who shared the pitch deck with Crypto Briefing said they had no doubts that Roche received compensation in Ava Labs stock and AVAX tokens in exchange for legal services. They described the couple’s efforts to downplay their relationship as ‘bullshit’ and estimated that Roche made around $200 million from the arrangement, part of which he sold to buy property in New York and other cities. other locations in the United States.

Authentic Peer Relationship Questions

Since Crypto Leaks report made the rounds in the crypto community over the weekend, Ava Labs went on the defensive, with Gün Sirer initially calling it an “absurd conspiracy theory.” Sekniqi, meanwhile, said the article was “stupidity at the maximum level of mega gig written by an ICP conspiracy site. However, the Ava Labs and Roche team were careful not to mention any token or equity agreements.

If the Crypto Leaks report came from a credible source or not, Roche confirmed that he appeared in the videos and made statements about his relationship with Ava Labs, blaming his comments on intoxication and deception. Ryval’s development sheds light on the relationship Ava Labs shared with Roche and their attempts to conceal their close contact with each other. When thrust into the spotlight today, they chose not to divulge any details about AVAX and equity compensation from Ryval or Roche. Naturally, this therefore raises the question of whether Ava Labs and Roche are covering something else.

Crypto Briefing contacted Ava Labs, Freedman Roche and Kyle Roche on several occasions, but had not received a response at press time.

Disclosure: At the time of writing this article, the authors of this article owned ETH and several other cryptocurrencies.

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