Ripple CEO Denies Crypto Leaks Claims On Funding Law Firm To Target Competitors
Kyle Roche and the CEO of Ripple allegedly had communicated about funding a law firm that would file lawsuits against rival companies similar to ones that Ripple was dealing with in the US.
Brad Garlinghouse, the CEO of Ripple, used Twitter to deny recent shocking allegations made by the website Crypto Leaks, which specializes in news about corruption and fraud in the cryptocurrency industry.
A report from Crypto Leaks that included a number of short videos from an unidentified source was released on Friday. According to the article, Ava Labs and the law firm made a deal in private to target and ruin crypto companies using the American legal system in gangster manner.
The CEO of Ripple, Brad Garlinghouse, allegedly paid a law firm to attack rival companies, according to the same source. Based on the report, Roche, who established Roche Freedman, collaborated with Boies Schiller Flexner, a company defending Ripple in its legal battle with the US Securities and Exchange Commission (SEC).
As per the reports, Roche contacted Garlinghouse about funding a law firm that would issue lawsuits against rival crypto companies that were quite comparable to those Ripple was dealing with at the time. Kyle also said that Garlinhouse accepted his offer.
Kyle Roche wasn’t saved from the SEC, regardless of why Brad Garlinghouse backed him and invested in him along his chosen path.
The CEO of Ripple responded to the claims on Twitter, saying he has “never met or spoken to (much less invested in) Kyle Roche.”
The latest charges made by Crypto Leaks towards Ava Labs and Brad Garlinghouse caused quite a stir in the cryptocurrency sector, even though both CEOs of the company have strongly denied any ties to Kyle Roche and his legal team.
A user pointed out the error in Crypto Leaks’ claim, showing Ripple and the XRP community jumping to the CEO of the company’s defense. The user claimed that Kyle’s words, which were later presented as facts without supporting evidence, were the basis for the assertions.
Chris Larsen, Ripple’s Co-Founder and Executive Chairman, was reportedly part of the effort to modify the Bitcoin code, while Garlinghouse denied financing in a law firm that targets competition.