Rumors of Ava Labs working with a law firm appeared as the community tried to wrap up August positively. According to the well-known website Cryptoleaks, Ava Labs and Roche Freedman LLP agreed to shut down other cryptocurrency businesses in exchange for AVAX tokens. Ava Labs’ CEO rejected the accusations, calling them “conspiracy theory garbage.” Kyle Roche of Roche Freedman then made the decision to speak up.
Over the past several months, there have been many things that have fallen apart in the cryptocurrency business. With abandoned projects and disappearing CEOs, the bears were not making things any simpler. In the midst of all of this, crypto lawyer Kyle Roche of Roche Freedman LLP gained notoriety after a number of videos showing him having cocktails with clients surfaced. Although this looks like a routine encounter, there was difficulty since he allegedly talked about his relationship with crypto clients. Even his company’s collaboration with Ava Labs to overthrow other businesses was mentioned.
Roche debunked all allegations on Twitter earlier this week. The recordings disclosed by Cryptoleaks, he continued, were “extremely altered and illegally obtained.” After that, the lawyer for several crypto businesses withdrew from many class action lawsuits.
In the Southern District of New York, Roche reportedly filed petitions to resign as the attorney for a number of class action lawsuits. Tether, Bitfinex, the Tron Foundation, HDR Global Trading, and Binance were among those mentioned. The motion further noted that the crypto lawyer was “no longer participating” in the class action business of the law firm.
Roche’s action was also questioned by the community because he had previously refuted all accusations. Even going so far as to assert that Ava Labs would never make such a request in the first place, he endorsed the company.
Ava Labs’ AVAX rolls down the hill
AVAX saw a greater loss as a result of this information, even if the entire crypto-verse has been in decline. Over the past several days, the value of the Ava Labs’ token has dropped significantly.
Earlier this week, the altcoin plunged to a low of $17.56. AVAX was selling for $19.05 at the time of writing, down 3.25 percent over the last 24 hours. It should be mentioned that over the past week, the altcoin had a 17 percent decline.