This Week on Crypto Twitter: Avalanche Exposed by Self-Proclaimed Whistleblower Ted Cruz Visits the Crypto Mine – Decipher

Illustration by Mitchell Preffer for Decrypt

Crypto Prices This Week Were Again disappointing at all levels. Despite signs of growing adoption and regulation and slight progress in the ongoing insolvency issues of crypto lenders Celsius and Holdnaut, it was another excruciatingly slow week, albeit relatively short in terms of losses.

However, on crypto Twitter, things were much more outrageous. Last weekend, a self-proclaimed crypto whistleblower site called Crypto Leaks published a long and damning expose of a lawyer employed by Avalanche named Kyle Roche.

The report includes clips from Roche’s undercover videos from two separate meetings, in which he confesses to having deep vested interests in Avalanche, owning both a percentage of the token offering and significant shares.

Roche admitted to regularly suing Avalanche’s competitors because, by a quirk of the US legal system, litigation opens up a process called “discovery” where Roche, the suer, can gain access to the target company’s confidential accounts, data email, Slack, social media communications, and more, while financially inconveniencing defendants and diverting their attention and resources from positive blockchain projects.

Immediately after the leak, Roche withdrawn from prosecution against Binance, Tether and many other crypto companies. At the start of the weekend, the price of Avalanche fell 10% in seven days; today is still the week The Biggest Loser among the top 60 cryptocurrencies.

Ari Paul, CIO of crypto investment firm Blocktower, was not surprised by the allegations.

Binance CEO Changpeng “CZ” Zhao has shared Avalanche CEO Emin Gün Sirer’s official response to the allegations. CZ also wrote tweets referring to the leak which he then deleted.

Sirer’s official statement downplays the extent of Roche’s actual involvement in Avalanche. Sirer also claims that the Roche lawsuits were brought without Avalanche’s knowledge and that Roche’s firm, Roche Freedman, “is one of more than a dozen law firms we employ for matters related to taxation, business, regulation and human resources”.

On the same day, Roche himself tweeted a Medium post dismissing the Crypto Leaks article as “numerous unsourced misrepresentations and illegally obtained highly edited video clips that are not presented with accurate context.”

Finally, when Decrypt announced later in the week that Roche had withdrawn from a lawsuit against Binance, CZ was upset to see his exchange dragged into the dispute.

In other lawsuit news, Washington DC attorney Karl Racine announced he is suing Bitcoin whale Michael Saylor and his cloud software company MicroStrategy for allegedly evading income tax from the State claiming he was a resident of Florida (which has no income tax), despite having the largest expenses. of the year in Washington.

Twitter NFT

Bored Ape Yacht Club made their world television debut Sunday night at the MTV Video Music Awards in a Metaverse-hosted performance by rap icons Eminem and Snoop Dogg of their song, “From D2 to LBC.” It was widely swept by NFT reviewers.

Eminem-loving/NFT-hating Redditors were also unimpressed.

Kofi Kufuor (@0xKofi), a partner of the crypto investment firm 1 confirmationdid some math and reported back with some info on the NFT industry, including the extent of Twitter’s influence.

On Thursday, crypto sleuth ZachXBT released the second part of his investigation in over 600 compromised Discord servers and over a dozen hacked Twitter accounts in the NFT space. Turns out a notorious fraudster named Cameron Redman has been sold Twitter panel access to a scammer, who then phished people and used the stolen funds to buy an Audemars Piguet. The address he paid for the watch with is linked to numerous Discord server hacks.

Otherside, the upcoming Bored Apes Yacht Club-themed metaverse game, released a new trailer on Saturday.

Somewhere else…

FTX CEO Sam Bankman-Fried has denied rumors that his exchange is planning to acquire Huobi.

Finally, Texas Senator Ted Cruz wants you to know that he is still a man of the people (Bitcoin).

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