Ripple CEO comments on Crypto Leaks, denies funding law firm to target others

Published at: Aug. 29, 2022

Ripple CEO Brad Garlinghouse took to Twitter to deny recent explosive claims made by Crypto Leaks, an online publication focusing on corruption and fraud-related news in the crypto ecosystem.

Crypto Leaks published a report on Friday containing a series of short videos from an unknown source. The report claimed that Ava Labs formed a secret pact with the law firm to use the American legal system “gangster style” to “attack and harm crypto organizations."

The same report also alleged that Ripple CEO Brad Garlinghouse funded a law firm to target competitor firms. The report claimed Roche, who founded Roche Freedman, was earlier working with Boies Schiller Flexner, a firm that was representing Ripple in its lawsuit against the United States Securities and Exchanges Commission (SEC).

Roche allegedly approached Garlinghouse to invest in a law firm that would target competitor crypto firms with lawsuits quite similar to what Ripple was facing at the time. And Kyle claimed that Garlinhouse agreed to his proposal.

“For whatever reasons Brad Garlinghouse invested in Kyle Roche and supported him on his current path, it certainly didn't save him from the SEC.”

Ripple CEO took to Twitter to deny any such allegations and claimed that he has “never met or spoken to (much less invested in) Kyle Roche. “

Can’t comment on the validity of the slew of allegations in here, but I can unequivocally say that I have never met or spoken to (much less invested in) Kyle Roche. https://t.co/s5Qu91AV2Z pic.twitter.com/DjLZ0eSdbe

— Brad Garlinghouse (@bgarlinghouse) August 29, 2022

Crypto Leaks' recent slew of allegations against Ava Labs and Brad Garlinhouse created quite a buzz in the crypto industry as both the CEOs of the firm have denied any allegiance to Kyle Roche and his law firm.

Related: Ripple CTO lashes back at Vitalik Buterin for his dig at XRP

Ripple and XRP community were quick to come to the defense of the company’s CEO, where one user pointed toward the flaw in the argument put forward by Crypto Leaks. The user pointed out that the claims were based on Kyle’s comments, which were later presented as facts without proof.

“According to Kyle” pic.twitter.com/avIqcZRnNz

— Kevin Smith (@KJS_Brainstorm) August 29, 2022

While Garlinghouse denied investing in a law firm that targets competitors, Ripple’s co-founder and executive chairman Chris Larsen was infamously involved in the campaign to change the code of Bitcoin.

Tags
Regulation
Sec
Altcoin
Business
Cryptocurrencies
Xrp
Ripple
Security
Related Posts
XRP price breaks out of range with a 25% rally, but why?
Crypto markets are flashing a bit of green on Sept. 22 as Bitcoin (BTC) price tacked on a 4.7% gain to trade above $19,300 and Ether (ETH) surged 6.5% to recapture the $1,300 level. RSR and and Astar Network (ASTAR) also surged by 23% and 17% respectively, but the more notable mover of the day was XRP. Currently, XRP price reflects a near 25% gain and the asset is up 41% in the past month. According to defense lawyer, James K. Filan, on Sept. 18 Ripple Labs filed a motion for summary judgement - a legal process which involves the …
Regulation / Sept. 22, 2022
Over 6,000 XRP holders volunteer as third-party defendants in SEC lawsuit
XRP tokenholders have attempted to insert themselves as third-party defendants in the United States Securities and Exchange Commission’s lawsuit against Ripple Labs. A motion to intervene was filed by John Deaton of Deaton Law Firm on Sunday on behalf of over 6,000 XRP holders. Deaton, himself an XRP holder, argued that the interests of tokenholders were not being adequately represented in the securities lawsuit against Ripple Labs and its executives. Deaton’s argument builds upon the refutation of any securities violations by Ripple Labs. Specifically, if XRP is not a security — as Ripple executives Bradley Garlinghouse and Christian Larsen claim …
Bitcoin / March 15, 2021
SEC set to sue Ripple with XRP in the crosshairs
Ripple will be sued by the United States Security and Exchange Commission for allegedly selling unlicensed securities in the form of XRP tokens, according to Fortune. In a move reminiscent of Coinbase's recent front-running of a New York Times expose of its alleged treatment of employees of color, Ripple CEO Brad Garlinghouse has taken the unusual step of posting to Twitter to seemingly legislate the issue in the court of public opinion. Today, the SEC voted to attack crypto. Chairman Jay Clayton - in his final act - is picking winners and trying to limit US innovation in the crypto …
Blockchain / Dec. 22, 2020
XRP price could rally by 50% based off comments from a former SEC director
XRP are hoping that the token could see a massive price rally in 2022 based off the fingers-crossed assumption that Ripple will win its long-running legal battle against the U.S. Securities and Exchange Commission (SEC). Hinman documents to save XRP bulls? On Sep. 29, the district court judge in the case, Judge Analisa Torres, ordered the commission to release the documents penned by William Hinman, the former director of the corporation finance division at the SEC. Hinman may have written about Ether (ETH), the native token of the Ethereum blockchain, not being a security in the concealed documents, believes Ripple. …
Sec / Oct. 3, 2022
Stablecoins not the target in BUSD crackdown: Matrixport head of research
Crypto financial services Matrixport's head of research believes the recent scrutiny of Paxos and its Binance USD (BUSD) token is not a direct attack on stablecoins themselves. In a Feb. 14 analysis, Matrixport's Markus Thielen suggested that Paxos Trust Company, the issuer of the Binance USD (BUSD), may not have been stringent enough with its oversight of the token. He added that the issue "does not appear to be around stablecoins" in itself. "Paxos had violated its obligation to conduct tailored, periodic risk assessment and due diligence of Binance and Paxos-issued BUSD customers," Thielen argued. On Feb. 13, the New …
Regulation / Feb. 14, 2023